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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.
For most economies worldwide, their leading export and import trading partners in terms of value are typically the United States, the European Union (EU) or China. Emerging markets such as Russia, Brazil, India, South Africa, Saudi Arabia, the UAE, Turkey, and Iran are becoming increasingly important as major markets or source countries in various regions.
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 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 ...
President-elect Donald Trump appears keen on launching a simultaneous trade war with America’s three biggest trade partners: Mexico, China and Canada.
Truck Parking Club used data from the Bureau of Transportation Statistics and Census Bureau to explore U.S. freight trade with Canada and Mexico. ... 800-290-4726 more ways to reach us.
Economic ties are particularly robust, with the United States being Malaysia's largest trading partner and Malaysia is the tenth-largest trading partner of the US. Annual bilateral trade amounts to $50 billion. The United States and Malaysia launched negotiations for a bilateral free trade agreement (FTA) in June 2006.
The United States is the world's largest producer of petroleum and natural gas. [60] In 2016, it was the world's largest trading country [61] and second largest manufacturer, with American manufacturing making up a fifth of the global total. [62] The U.S. not only has the largest internal market for goods, but also dominates the services trade.