For the first time in two decades, China is not the primary source of imports to the US, according to data from the Commerce Department.

Between 2022 and 2023, the Commerce Department reports a nearly 5% increase in the value of goods imported to the United States from Mexico, reaching over $475 billion. In contrast, Chinese imports experienced a 20% decline during the same period, totaling $427.2 billion—marginally surpassing Canada's import figures.

Over $3 trillion worth, which is more than a third of U.S. imports, originates from Mexico, China, and Canada combined.

In 2023, the U.S. trade deficit, calculated as exports minus imports, saw a contraction of nearly 19%. This decline was influenced by increased purchases from European nations, South Korea, India, and Vietnam, particularly in the categories of clothing items and auto parts. The overall reduction in U.S. imports during the same period can be attributed to decreased spending on consumer goods like clothing and cell phones, along with a decline in crude oil imports.

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