The U.S. just slapped a 25% tariff on steel and aluminum imports. Plus: Super Bowl freight surged 38%, a $600K chassis theft ring was busted at the Port of LA, and Amazon’s strong Q4 fueled speculation about an Old Dominion acquisition.
Mexico-US Truck Crossings Hit Record High in Q2 2024
Northbound truck crossings from Mexico to US hit 1.97 million in Q2 2024, up 21% from 2018. Here are some stats, trends, and implications for cross-border trade from a supply chain expert.
Northbound truck crossings from Mexico to the US smashed records in Q2 2024.
Key Stats:
1.97 million crossings in Q2 2024
Up 4.3% year-over-year
21% increase from Q2 2018
Expert Analysis:
Supple chain professor Jason Miller provided his analysis of the data:
Image Source: Jason Miller/LinkedIn
Q2 2024 saw 1.97 million northbound truck crossings, a 4.3% jump from last year. This surge marks a 21% increase from the previous high in Q2 2018, pre-pandemic.
The 4.3% year-over-year growth aligns with 2016-2018 trends. This follows weakness in 2019 and most of 2023.
A notable dip had occurred in Q4 2021, likely due to US auto production slowdowns from component shortages.
Mexican manufacturing is only up 7% from Q2 2018, which does raise questions about the 20% truck crossing increase.
Possible Explanations:
Miller gave some possible reasons on why things are the way they are currently. For starters, there could be an increase in US-bound agricultural shipments. There is also the possibility of more freight-intensive manufacturing exports.
For instance, according to Miller, Mexican beverage companies could be sending a "greater share of output northbound to the USA."
He also writes thatfinished Chinese products are being imported to Mexico, with a “Made in Mexico” label slapped on them to avoid tariffs.
Regardless of the possible explanations, the solid growth in Q2 signals a strong return for Mexico-US trade. Industry watchers will be keen to see if this upward trend continues.
Hello! I'm Jerome FreightCaviar! I’m into the politics of freight and the impact it will have worldwide. I'm always eager to learn more. Follow me on X @JeromeFreightC
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