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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.
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]
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]
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. has a trade deficit, meaning it imports more goods than it exports. Tariffs could help close that gap by raising the prices of foreign goods and encouraging Americans to purchase domestic ...
This data underscored the U.S. central bank's projection last month of only two rate cuts this year compared to the four it had forecast in September. ... the trade deficit widened by 6.2% to $78. ...
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 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.