The U.S.-Mexico commercial transportation industry saw increased trade in 2024, along with a jump in Mexican cargo theft and disruptions at border bridges. (Photo: Jim Allen/FreightWaves)
In 2023, Mexico supplanted Canada and China as the top source of imports to the U.S.
Throughout 2024, Mexico solidified its place as the top U.S. trading partner, boosted by cross-border commerce for automotive goods, computers, cell phones, oil and fresh produce.
While U.S.-Mexico cross-border trade continues to rise, other major stories include ongoing cargo theft against carriers and truck driver labor disputes in the country, as well as President-elect Donald Trump’s tariff plans.
As 2024 comes to an end, here’s a look back at five of the biggest stories.
US-Mexico trade to top $800B in 2024
Mexico is the United States’ top trading partner once again, outperforming China and Canada in two-way trade in 2024. It was the second consecutive year Mexico held that spot.
From January through October, U.S.-Mexico trade totaled $706.9 billion, a 5% year-over-year increase compared to the same period last year, according to the latest Census Bureau data.
Mexico is on pace to eclipse the $799 billion in two-way trade it achieved with the U.S. in 2023, boosted by exports of gasoline and other fuels and imports of commercial trucks, passenger vehicles and auto parts. (Read two of FreightWaves’ articles here and here.)
Truckload volumes moving from Mexico to the U.S. were up 9% year over year on Oct. 29 but had dropped about 19% year over year as of Nov. 6, according to the SONAR Northbound Mexico Truckload Volume Index (MEXVOL.MEXUSA).
SONAR’s Northbound Mexico Truckload Volume (MEXVOL.MEXUSA) contract trucking volumes have been trending lower since Oct. 29. To learn more about FreightWaves SONAR, click here.
Trump tariff threat creating trade uncertainty
Trump said that on his first day back in office on Jan. 20, he will impose 25% tariffs on imports from Mexico and Canada.
The tariffs are aimed at pressuring those countries to stop drugs and illegal migrants from crossing into the U.S., Trump said. He has also said he’ll impose an additional 10% tariff on Chinese imports to fight drugs coming from that country. (Read two of FreightWaves’ articles here and here.)
While it remains to be seen if Trump will go through with implementing the tariffs on imports from Mexico and Canada, trade and supply chain professionals said shippers are concerned about how the tariffs could affect global freight flows.
Sri Laxmana, vice president of Americas at freight broker and 3PL giant C.H. Robinson, said the company began hearing from concerned customers as soon as Trump made the announcement.
“We’ve been pulled into countless customer meetings to run risk scenarios for if Canada and Mexico tariffs were implemented,” Laxmana told FreightWaves in an email. “Many of our customers — especially in the automotive space — treat North America as one integrated supply chain with some of their freight actually crossing both the Mexico and Canada borders.”
Mexican President Claudia Sheinbaum warned that Mexico could retaliate and raise taxes on U.S. imports to the country.
“One tariff would be followed by another in response and so on until common businesses are put at risk,” Sheinbaum said during a Nov. 27 news conference.
Trump said that on his first day back in office on Jan. 20, he will impose 25% tariffs on imports from Mexico and Canada. (Photo: Jim Allen/FreightWaves)
Cargo theft increased across Mexico in 2024
Cargo theft in Mexico continues to plague commercial transporters across the country.
From January through November, Mexico-based security firm AI27 recorded 15,937 cargo theft incidents against trucking companies, a 9% year-over-year increase compared to the same period in 2023.
In Mexico, a staggering 83% of the cargo thefts involved some type of violence against truck drivers, according to supply chain visibility firm Overhaul.
The main tactic used by criminals in Mexico is the interception of cargo trucks while they are in transit, accounting for 72% during the third quarter, Overhaul said. Theft from trucks in unsecured parking areas accounted for 27% of incidents.
Mexican authorities said efforts to increase security on the country’s highways, known as the Balam strategy, has helped reduce cargo theft in recent months.
Protests, blockades disrupt trade at border bridges
There were a number of protests and blockades at border bridges throughout the year in Mexico, with organizations aiming to shine a light on everything from violence against drivers and low pay to poor working conditions and social issues affecting citizens.
In February, several Mexican trucking associations — including members of the United Federal Drivers Association, the Mexican Transport Alliance and the Mexican American Transport Federation — threatened a nationwide strike to highlight the threat of cargo theft that drivers faced in the country.
Organizers said they were seeking more patrols from Mexico’s National Guard on roads with a high incidence of theft, tougher penalties against cargo thieves and more support for the families of truckers hurt or killed by thieves.
Truckers in Mexico blockaded the Pharr-Reynosa International Bridge in April, halting traffic and the flow of goods in response to Texas Gov. Greg Abbott’s order for state troopers to search commercial vehicles that enter the U.S. through Texas.
In November, protesters in Nuevo Laredo, Mexico, began blocking the roadway on the Mexico side of the World Trade Bridge that connects to Laredo, Texas. The protests, which lasted almost two days, were reportedly to highlight victims of the Mexican Army and the country’s National Guard.
In November, protesters in Nuevo Laredo, Mexico, began blocking the roadway on the Mexico side of the World Trade Bridge that connects to Laredo, Texas. The demonstration was aimed at highlighting alleged violence against citizens by the Mexican Army and the country’s National Guard. (Photo: FreightWaves)
Cargado launches first-ever load board for Mexico freight
In September, FreightTech firm Cargado unveiled a first-of-its-kind invite-only load board for freight moving into and out of Mexico.
Cargado’s platform has more than 50 logistics customers (brokers, 3PLs and freight forwarders) posting their cross-border freight to get bids from more than 300 cross-border trucking companies.
Freight brokers can post cross-border Mexico freight in the Cagado platform, whether it’s going from Mexico to the U.S., Mexico to Canada or vice versa.
Cargado CEO and co-founder Matt Silver said customers are able to use the platform to book cross-border freight faster and more transparently.
“Our goal with what we’ve been creating is to build something that allows people to collaborate and communicate and do business together,” Silver told FreightWaves in an interview. “We hope that people can kind of reframe how they think about the load board concept with what we’re introducing to the market with Cargado. It is purely for cross-border freight.”
