Factbox: US imports from Canada, Mexico in 2024 as tariff threat looms

Forward Industries

22/01/2025 11:00

Jan 22 (Reuters) - As U.S. President Donald Trump mulls
imposing 25% duties on imports from Canada and Mexico on Feb. 1,
focus has shifted to the sectors likely to bear the brunt of the
tariffs.
    About 28%, or about $844 billion, of all U.S. imports in
2024 came from the two neighboring countries, data from the
Census Bureau shows. The automobile industry accounted for
imports of more than $202 billion from Canada and Mexico
combined.
    "Japanese automakers like Toyota stand to gain the most so
long as tariffs are applied to Canada and Mexico, as many of
their imported parts come from Japan, or suppliers located in
the U.S.," said Jason Miller, interim chair of the department of
supply-chain management at Michigan State University's business
college.    
    Here is a list of the biggest imports into U.S. from Mexico
and Canada last year:
    
                 Total value   % of US         Cumulative % of
 Commodity       of US         imports of the  exports from
                 imports of    product from    Canada/Mexico
                 the product   Mexico/Canada   
                 from Canada                   
                 & Mexico                      
 Automobile &    $102.21 bln   45%             12%
 light duty                                    
 motor vehicle                                 
 manufacturing                                 
 Crude oil       $101.45 bln   66%             24%
 Electronic      $38.99 bln    37%             29%
 computers                                     
 Other motor     $28.28 bln    60%             32%
 vehicle parts                                 
                 $23.28 bln    26%             35%
 Goods returned                                
 (exports for                                  
 Canada only)                                  
                                               
 Heavy duty      $18.68 bln    93%             37%
 trucks &                                      
 chassis                                       
 Oil refinery    $17.67 bln    31%             39%
 products                                      
 Motor vehicle   $14.42 bln    58%             41%
 electrical &                                  
 electronic                                    
 equipment,                                    
 NESOI*                                        
 Audio & video   $13.03 bln    36%             42%
 equipment                                     
 Nonferrous      $12.79 bln    35%             44%
 metal (except                                 
 Aluminum)                                     
 Smelted,                                      
 Refined                                       
 Source: U.S. Census Bureau
    * NESOI is an acronym used to categorize exported cargo
items. It stands for "Not Elsewhere Specified or Included".

 (Reporting by Juveria Tabassum in Bengaluru; Editing by
Shailesh Kuber)
 ((Juveria.Tabassum@thomsonreuters.com;))