New federal trade data reveals that Mexico continued its reign as the number one trading partner of the United States for the fourth straight month in August 2022. Total US-Mexico trade reached $70.8 billion, edging out Canada at $66.2 billion for the top spot.<\/p>\n
According to the US Census Bureau, Mexico has ranked as the top US trade partner for the seventh time in the past eight months. Experts believe supply chain diversification efforts by US companies explain Mexico’s consistent high trade volumes.<\/p>\n
The border crossing at Laredo, Texas retained its ranking as the nation’s busiest trade gateway in August, handling $28.6 billion in total import and export freight. Auto parts, vehicles, and commercial trucks were among the top commodities traded through Laredo last month.<\/p>\n
Truckload freight demand out of Laredo has nearly doubled since 2018 according to industry data. The growth reflects Laredo’s importance as a land port enabling manufacturers and retailers to bypass pandemic-induced congestion at ocean ports.<\/p>\n
In company news, vertical farming startup Eden Green Technology broke ground on a major $40 million expansion of its production campus near Dallas. Two new high-tech greenhouses opening in 2025 will grow the company’s capacity to supply fresh produce.<\/p>\n
Meanwhile, Mexican commercial vehicle production declined for the second straight month in September. Exports of Mexico-built trucks also dipped despite continued strong demand from US fleets and operators.<\/p>\n
And in infrastructure news, the Port of Brownsville in South Texas secured an $11.5 million federal grant to modernize one of its bulk cargo docks originally built in the 1940s. The project aims to increase the port’s shipping capacity and efficiency.<\/p>\n