The U.S. exported about US$226.4 billion worth of goods to Mexico from January to August this year, compared to roughly US$225.6 billion to Canada. If the trend continues for the rest of 2025, it will be the first year in at least four decades that the U.S. sold more goods across its southern border than its northern one. (The New York Times)

Talking point: The U.S. exported nearly US$350 billion worth of goods to Canada last year and US$334 billion to Mexico. U.S. President Donald Trump made Canada and Mexico early targets of his trade war, slapping 25 per cent tariffs on his fellow members of the North American trade pact. Canada retaliated with counter-tariffs on a wide range of U.S. goods, but has since walked most of them back. Trump later increased duties on Canada to 35 per cent and threatened to add another 10 per cent the last time he halted talks. Trump has held off hiking them for Mexico, which did not impose counter-tariffs on the U.S., as negotiations between the two countries continue.

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