NAFTA Trade Update
According to The Journal of Commerce trade surface transportation has fallen by 31 percent in June as compared to last year statistics. June was the ninth month in row showing a decline in trade and the eighth showing a double digit loss.
U.S.–Canada surface transportation trade totaled $31 billion in June, down 36.6 percent compared to June 2008. The value of imports carried by truck was 34.8 percent lower in June 2009 compared to June 2008, while the value of exports carried by truck was 28.8 percent lower during this period.
U.S.–Mexico surface transportation trade totaled $19.7 billion in June, down 21.8 percent compared to June 2008. The value of imports carried by truck was 18.0 percent lower in June 2009 than June 2008 while the value of exports carried by truck was 14.3 percent lower, BTS said.
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Canada has recently made the news (and a previous post on this blog) about its open discussions with the European Union to expand its trade to boost both economies.
And, today, an article appeared in The Global and Mail, a Canadian publication, about moving eastward and engaging in negotations with India about free trade agreements.
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To read the full article, click The Global and Mail