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Vietnam is vulnerable to becoming the new Trump administration's next target for tariffs as data shows its trade surplus with the United States ballooning, industry executives and analysts said.
China's soybean imports rose 6.5% in 2024, hedging against potential Trump trade policies. Intensifying US-China trade tensions could hit the soybean trade, impacting US farmers and rural economies.
A paper issued in 2019 by trade economists from the Federal Reserve and Columbia and Princeton universities reported that the trade war was costing the U.S. economy $1.4 billion per month by the ...
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]
August 8: The Office of the United States Trade Representative published its finalized list of 279 Chinese goods, worth $16 billion, to be subject to a 25% tariff from August 23. [84] [119] [120] In response, China imposed 25% tariffs on $16 billion of imports from the US, which was implemented in parallel with the US tariffs on August 23. [121]
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.
U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday. Japan's benchmark Nikkei 225 slipped 0.1% in morning trading to 38,951.77. Australia's S&P/ASX 200 gained 0.5% to 8,392.80.
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 ...