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[16] [17] The overall U.S. trade deficit widened 12.2 percent in 2022 to nearly $1 trillion as Americans bought large volumes of foreign machinery, pharmaceuticals, industrial supplies and car parts, according to new data released by the Commerce Department. [18] The US last had a trade surplus in 1975. [19]
As of November 2024, the U.S. government estimated the United States's trade deficit with Canada to be US$55 billion. [7] This trade deficit is largely driven by American demand for Canadian oil; when oil exports are excluded, the U.S. has a trade surplus with Canada. [7] Roughly 60 percent of the oil imported by the United States is sourced ...
Balance of trade with the United States. The 30 largest trade partners of the United States represent 87.9 percent of U.S. exports, and 87.4 percent of U.S. imports as of 2021. These figures do not include services or foreign direct investment. In 2023, Canada is the largest trading partner of the United States, followed by Mexico. [1]
In 2018, during his first term, Trump initiated a brutal two-year trade war with China over its massive U.S. trade surplus, with tariffs imposed by both sides on hundreds of billions of dollars ...
And for much of the past 50 years, the US has had a trade deficit, driven by goods (America runs a growing surplus on services). That trade gap widened significantly in the 1990s as globalization ...
Vietnam is vulnerable to becoming the new Trump administration's next target for tariffs as data shows its trade surplus with the United States ballooning, industry executives and analysts said.
This is a list of countries by net goods exports, also known as balance of trade, which is the difference between the monetary value of a nation's exports and imports over a certain time period. [1] The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1 .
The growth of their U.S. trade surpluses more than made up for China's decline. ... CEO of the Distilled Spirits Council of the United States. In the 2020 "Phase 1" trade deal that ended the U.S ...