Mexico, Canada, and China account for over 40% of U.S. agricultural exports

According to analysts at APK-Inform, the countries on whose imports of goods it is planned to impose duties are key US trading partners in the agricultural sector.

 

Thus, in 2019–2023, the average annual cumulative share of Mexico, Canada, and China among suppliers of agricultural products to the United States was 43%. At the same time, their share among buyers of American agricultural products during this period reached 47%, - reports the International Trade Center.

 

It is worth noting that during the specified period, the United States imported 4% more agricultural products in monetary terms than it exported, and in 2023 this figure increased to 13%.

 

 

Mexico dominates among the main suppliers of agricultural products to the United States, whose share in total US imports in monetary terms exceeds 20% every year, and in 2023 reached a record 23%.

 

Among importers of American agricultural products, the leader is Canada, to which the United States annually supplies about 17% of its exports in this segment (in monetary terms).

 

 

It is worth noting that the structure of foreign trade between the United States and Canada is dominated by value-added products. In particular, the top 10 goods that the United States imports from Canada include bakery products, rapeseed oil, beef, and other products. At the same time, Canada buys ethyl alcohol, prepared foods, and the same bakery products from the United States the most.

 

 

It is currently difficult for analysts to accurately assess the impact of the announced tariffs on the agri-food sector in general, and on the grain and oilseed industries in particular. A detailed analysis will be possible after the list of goods on which tariffs will be imposed is clarified and potential changes in trade flows are assessed.

 

"The introduction of tariff regulation of foreign trade announced by the United States is likely a strategy of the new American administration to strengthen its positions in future negotiations. At the same time, even the very fact of announcing such measures already has a certain economic and social effect. In particular, residents of Canada, especially those in the border regions with the United States, are reacting sharply to this news and are declaring their readiness to abandon American goods," experts note.