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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.
English: United States deficit by country (in billions, goods only) showing the countries with the largest deficit and the percent of total for each for 2019. Data source US Census Bureau Date
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]
A trade deficit occurs when a country imports more than it exports -- and that's a good thing for a national economy. Or a terrible thing. ... In the United States, the Bureau of Economic Analysis ...
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 ...
An example J curve. Trade starts in perfect balance, but depreciation at time 0 causes an immediate trade deficit of 50 million dollars. The balance of trade improves over time as consumers react, returning to balance at month 3 and rising to a surplus of 150 million at month 4.
The authority of Congress to regulate international trade is set out in the United States Constitution (Article I, Section 8, Paragraph 1): . The Congress shall have power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and to promote the general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform ...