Trade with Mexico and Canada generates 13 million jobs in the United States, according to the Business Roundtable (BRT).
The BRT is a U.S. association that brings together more than 200 CEOs from the country’s leading companies, representing more than $10 trillion in annual revenue. It promotes policies that foster growth, employment, and business competitiveness.
Trade with Mexico and Canada
Intraregional foreign trade in North America generates millions of direct and indirect jobs, especially in manufacturing, logistics, and services. This trade flow strengthens the economy, boosts wages, and contributes to the sustainable development of Mexico, the United States, and Canada.
According to the BRT, trade with Canada and Mexico currently supports 13 million jobs in the United States.
Since the USMCA came into force, Canada and Mexico have invested $775 billion in the United States, and there has been a 50% increase in bilateral trade, amounting to $1.9 trillion in goods and services.
A quarter of total U.S. trade comes from Canada and Mexico, more than from any other trading bloc.
Since the implementation of the USMCA, real GDP in North America has grown. All three countries have experienced sustained economic growth, but the United States has grown more rapidly than Canada and Mexico.
Stronger economies drive greater consumption and increased cross-border activity, which in turn strengthens the economic competitiveness of the United States and North America.
Agricultural sector
The USMCA is also critical to the rural and agricultural economy of the United States.
In 2024, the United States exported $30.3 billion worth of agricultural products to Mexico, its largest agricultural export market, and $28.4 billion worth to Canada, its second-largest agricultural export destination.
It should be noted that China ranked third with $24.7 billion.
“Ensuring stable agricultural trade with our USMCA partners has become even more important given China’s recent refusal to purchase various U.S. agricultural products,” the BRT said.