Where Data Tells the Story
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In 2023, Canada and Mexico heavily relied on trade with the U.S., which accounted for 67.8% and 65.7% of their total trade, respectively. However, trade with these neighbors made up a much smaller share of U.S. trade—15.2% with Canada and 15.7% with Mexico. This imbalance highlights the greater trade vulnerability of Canada and Mexico to changes in U.S. trade policies.
In contrast, the U.S. trade relationships with the European Union (EU) and China show a more balanced interdependence. U.S. trade represented 17.2% of the EU's total trade and 9.7% of China's, while their shares of U.S. trade were 18.5% and 11.3%, respectively. These dynamics underscore the relative symmetry in U.S. trade with its global partners compared to its North American neighbors.
In 2023, Canada and Mexico's exports to the U.S. accounted for 80.1% and 73.6% of their total exports, respectively, emphasizing their heavy reliance on the American market. By contrast, U.S. imports from these neighbors represented a much smaller share—15.4% from Mexico and 13.6% from Canada. This imbalance highlights the trade vulnerability of Canada and Mexico to shifts in U.S. trade policies.
In comparison, U.S. trade relationships with the European Union (EU) and China demonstrate greater balance. Exports to the U.S. made up 18.7% of the EU's total exports and 13.9% of China's, while their shares of U.S. imports were 20.9% and 12.6%, respectively. These figures underscore the asymmetry within North American trade compared to the more balanced exchanges between the U.S. and its key international partners, the EU and China.