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U.S. Trade Balance (1895–2015) and Trade Policies. The 1920s marked a decade of economic growth in the United States following a classical supply side policy. [1] U.S. President Warren Harding signed the Emergency Tariff of 1921 and the Fordney–McCumber Tariff of 1922. Harding's policies reduced taxes and protected U.S. business and ...
The 30 largest trade partners of the United States represent 86.1 percent of U.S. exports, and 89.6 percent of U.S. imports as of 2024. These figures do not include services or foreign direct investment. In 2024, Canada is the largest trading partner of the United States, followed by Mexico and China. [1]
The trade deficit in terms of goods decreased by $123.4 billion from 2022 making it 1,059.6 billion in 2023. While for services this increased by $48 billion making it $279.8 billion in 2023. [3] The large decline in exports in 2020 has been attributed to the effects of COVID-19 pandemic. [4] Some key highlights of the 2020 data are:
In 2022, the US imported $4 trillion in goods and services and exported $3 trillion. The country’s biggest trading partners were Mexico, China, and Canada.
In 2022, the US imported $536 billion in Chinese goods, $455 billion in Mexican goods, and $437 billion in Canadian products, according to data from the U.S. Trade Representative.
US Trade Imbalance by Country (2023) Country Exports (USD Billion) Imports (USD Billion) Trade Imbalance (USD Billion) China: 147.8: 426.9-279.1: Mexico
The U.S. trade deficit widened sharply in December as imports surged to a record high against the backdrop of tariff threats. The trade gap increased 24.7% to $98.4 billion, the highest since ...
2023 Imports 2023 Trade balance 2023 Exports 2023 Imports 2023 Trade balance 2023 Exports Year Imports Year Trade balance Year (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) WORLD: 23 783 588.96: 24 234 678.07: −451 089.11: 23 783 494.36: 24 234 634.93 ...