Arizona News: NEW DATA: Trade With Mexico, Canada On The Rise

Arizona News: NEW DATA: Trade With Mexico, Canada On The Rise

PHOENIX, Aa. (STL.News) — According to new data released by the United States Census Bureau, Arizona’s bilateral trade with its North American trading partners jumped in 2018 — reversing a downward trend of recent years.

Trade with Mexico increased 7.7 percent from 2017 to 2018 to a total of $16.7 billion while trade with Canada grew by 2.4 percent to $3.7 billion. Arizona’s total bilateral trade with Mexico and Canada came in at $20.2 billion in 2018.

“Arizona’s international relationships have never been stronger — and the increase in trade between our state, Mexico and Canada only provides further evidence,” said Governor Doug Ducey. “More goods flowing through Arizona’s ports of entry mean more jobs, more business and more economic opportunity for our state. Arizona looks forward to continuing to build on our state’s strong international partnerships.”

In February, Governor Ducey issued a letter urging Congress to ratify the United States-Mexico-Canada Agreement, an agreement which would modernize U.S. trade relations with both Mexico and Canada.

“While the North American Free Trade Agreement was a historic agreement and visionary for its time, it is nearly 25 years old. The business world has evolved tremendously during that time, but our trade policies have not kept up,” Governor Ducey stated in the letter. “As we seek to secure Arizona’s economic future, a strong trade deal with Mexico and Canada is crucial. I urge you to work with your colleagues in Congress to move towards ratification of the USMCA as quickly as possible.”