NAFTA trade totals $91.1b in April

April was the sixth consecutive month in which the value of cross-border trade between the United States and its partners in the North American Free Trade Agreement trade increased from the same month the previous year.    The total value of cross-border trade between the United States and its partners in the North American Free Trade Agreement (NAFTA), which include Canada and Mexico, stood at $91.1 billion in April, up 0.8 percent from 12 months prior, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS).
   April was the sixth consecutive month in which the value of U.S.-NAFTA trade increased from the same month the previous year.
   In April 2017, compared to a year prior, the value of commodities moving by pipeline increased 63.5 percent, vessel increased by 27.8 percent, rail increased by 5.8 percent, air decreased by 2.1 percent and truck decreased by 5.5 percent.
   “The large percentage increase in the value of goods moving by pipeline and vessel is due in part to a 25 percent increase in the year-over-year price of crude oil between April 2016 and April 2017,” BTS said.
   Trucks continued to be the most commonly utilized mode for transporting goods to and from both Canada and Mexico, accounting for 59.5 percent ($29.4 billion) of the $49.5 billion in U.S. imports and 66.3 percent ($27.6 billion) of the $41.6 billion in U.S. exports.
   Rail was the second largest mode by value, moving 16.4 percent of all U.S.-NAFTA freight, followed by vessel at 6.3 percent, pipeline at 5.9 percent and air at 3.6 percent.
   The Office of the U.S. Trade Representative is holding public hearings today through Thursday regarding the upcoming NAFTA negotiations.
   “The public hearings follow USTR’s 90-day notification to Congress on May 18, 2017 regarding intent to renegotiate NAFTA as well as USTR’s Federal Register notice published May 23, 2017 requesting public comment,” the USTR said.
   Speakers at the hearing include a variety of industries, unions and activists.