Factbox-US imports from Canada, Mexico in 2024 as tariff threat looms #CanadaFinance

(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,

Nesii*

Audio & video $13.03 bln 36% 42%

equipment

Nonferrous $12.79 bln 35% 44%

metal (except

Aluminum)

Smilted,

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)