Monthly freight flows between the US and its NAFTA partners Canada and Mexico rose 6.6% month-on-month in October, and were up 7.9% from a year earlier.
According to data from the Bureau of Transportation, US freight flows within the North American Free Trade Agreement (NAFTA) region climbed to US$100.6bn in October.
From September to October 2017 the value of US freight flows to Canada was up 2.5% to US$49.7bn. US trade with Mexico was valued at $50.8bn in October, up 10.7% from September.
And on a year-to-date basis from October 2016, total trade with the US and its NAFTA partners grew 7.9% – up 6.8% with Canada and up 9% with Mexico.
Talks between Mexico, Canada and the US to renegotiate the terms of the North American Free Trade Agreement began in August last year and are still underway, although concerns have been expressed by the US at the lack of progress.
The fifth round of renegotiations concluded in late November with US Trade Representative Robert Lighthizer observing “no evidence that Canada or Mexico are willing to seriously engage on provisions that will lead to a rebalanced agreement.”
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By GlobalDataLack of NAFTA progress continues to cause concern
The sixth round of negotiations is set to take place from 23-28 January 2018, in Montreal, Canada.
