📈 Asymmetric Economic Dependence on U.S. Trade

U.S. Trade Drives Mexico and Canada’s Economies, While Their Impact on the U.S. is Limited

In 2023, Mexico and Canada displayed significant reliance on trade with the U.S., with U.S. trade accounting for 44.6% and 36.1% of their respective GDPs. In contrast, U.S. trade with these neighbors made up only a small share of its GDP—2.9% with Mexico and 2.8% with Canada. This imbalance highlights the heightened economic vulnerability of Mexico and Canada to changes in U.S. trade policies.

The dynamic between the U.S., the European Union (EU), and China tells a different story. While trade with the U.S. represents a notable portion of the EU’s and China’s GDPs (5.1% and 3.2%, respectively), their impact on the U.S. economy is comparatively minor, accounting for just 3.4% and 2.1% of U.S. GDP. This indicates a more balanced and less asymmetric trade relationship compared to that with its North American partners.