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United States trade deficits from 1997 to 2021. Deficits are over 50 billion dollars as of 2021 with the countries shown. Data from the US Census Bureau.. The balance of trade of the United States moved into substantial deficit from the late 1990s, especially with China and other Asian countries.
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 ...
In 2018, the year that a trade war with China was launched by U.S. President Donald Trump, the U.S. trade deficit in goods reached $891 billion, which was the largest on record [29] before the $1,183 billion deficit in the trade of goods recorded in 2021. [30]
The richest country in the world has run a trade deficit every single year since 1976. The Economy and Your Money: ... In the United States, the Bureau of Economic Analysis (BEA) is the agency in ...
The U.S. trade deficit in goods widened to a 2-1/2-year high in September amid a surge in imports, prompting some economists to trim their economic growth estimates for the third quarter.
The trade deficit contracted 2.0% to $63.2 billion, the Commerce Department's Census Bureau said. Data for October was revised slightly to show the trade gap widening to $64.5 billion instead of ...
United States trade deficits from 1997 to 2021. Deficits are over 50 billion dollars as of 2021 with the countries shown. Data from the US Census Bureau. The first Trump tariffs involved protectionist trade initiatives against other countries during the first Trump administration, most notably China.
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]