The Port of Laredo was the top international trade port in the U.S. in 2023.
Trade at the port was up by 7.1% compared to the year before and surpassed $300 billion for the first time.
Laredo has previously been named the top inland port in the U.S., receiving the distinction in various quarters, but this is the first time it has held the spot for an entire year.
It's at the center of U.S. trade with Mexico, which exported more to the U.S. than China for the first time in decades.
Mark Zandi, chief economist at Moody’s Analytics, spoke to NPR’s Morning Edition about the shift.
“(There’s a) very vexed relationship between China and the United States, dating back all the way to President Trump when he first imposed tariffs on China,” Zandi said.
“We’re going to be important less from China going forward. We’re decoupling,” he said.
According to data released Wednesday by the U.S. Census Bureau, Mexico surpassed Canada as the country’s top total trading partner with around $799 billion in trade.
Total trade in the U.S. totaled $5.1 trillion.
The Port of Laredo dethroned Chicago O’Hare International Airport as the busiest trade port. O’Hare had been the busiest U.S. trade port for the last two years.
