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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.
The country’s biggest trading partners were Mexico, China, and Canada. The $4 trillion in imports marked the highest amount on record for the US, with $3.3 trillion of imports coming from goods.
The largest import and export merchandise trade partners for most countries of the world are listed below. Details for the European Union, Hong Kong and Macau are also included. In most cases the data relates to 2021 rankings. Data was extracted from the World Trade Organization's Trade Profile Database. [1] [2]
Essentially, the tariff on imports plus the 25% penalty could effectively put an end to NAFTA, making “auto parts and electronics from Mexico pricier.” Plus, he added, “Companies might move ...
The trade bodies also highlighted that many companies own different spirit brands in all three countries. Houses Imports of Canadian lumber would be hit by import tariffs to the US.
Trump believes that imposing tariffs — import taxes — on U.S. trade partners can reduce America's massive trade deficits, protect U.S. industry from competition, bring manufacturing back to the United States and pressure other countries onto making concessions on a variety of issues, including reducing illegal immigration and cracking down ...
While there is a $209 billion trade imbalance, a more complicated relationship lies beneath those numbers. A company such as German automaker BMW can import parts needed to assemble vehicles at its factory in South Carolina, such that the trade totals also reflect the flow of goods within European companies that employ U.S. workers.
After the Great Depression, the country emerged as among the most significant global trade policy-makers, and it is now a partner to a number of international trade agreements, including the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO). Gross U.S. assets held by foreigners were $16.3 trillion as of the ...