04/16/2025
The Port of Laredo, TX, is now the leading gateway for goods entering the U.S., surpassing both the Port of Los Angeles and Chicago O’Hare International Airport
Trump's tariffs are unlikely to hinder nearshoring investments between Mexico and the U.S. In 2024, Mexico maintained its position as the top U.S. trade partner for the second consecutive year, achieving a record-breaking total trade volume of $840 billion—the highest annual figure ever recorded between the U.S. and any other country, according to Ken Roberts, founder and president of the market research firm WorldCity.
Canada followed as the second-largest trading partner with the U.S. at $761 billion, while China ranked third at $582 billion. Mexican exports to the U.S. reached $506 billion, reflecting a 6% year-over-year growth, while imports from the U.S. to Mexico grew 3%, totaling $334 billion.
In December 2024 alone, Mexico again led as the top U.S. trading partner with $63.8 billion in trade, closely followed by Canada at $62.4 billion and China at $50.1 billion.
Among U.S. trade gateways, the Port of Laredo, Texas, ranked first in 2024 out of 450 airports, seaports, and border crossings nationwide, according to data from the U.S. Census Bureau analyzed by WorldCity. Two-way trade through Port Laredo reached $339 billion, up from $320 billion in 2023. The Port of Los Angeles ranked second with $333 billion, and Chicago O’Hare International Airport came third with a trade volume of $295 billion.
The leading exports from Mexico to the U.S. through Laredo in 2024 included auto parts ($26.6 billion), passenger vehicles ($16.6 billion), and computers ($13.4 billion). Key imports from the U.S. to Mexico comprised auto parts ($14 billion), gasoline ($3.8 billion), and electric storage batteries ($3.5 billion).
This underscores the strength and momentum of the nearshoring trend between the U.S. and Mexico, with Texas emerging as a key player in this trend. At Door Capital, we believe this presents a compelling opportunity for strategic investment.
Sources: Freightwaves, WorlCity, USTradeNumbers