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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 largest US partners with their ...
Canada was the largest export trade partner for 36 states in 2023, while Mexico was the main export trade partner for several other states. The new tariffs would likely affect US consumers.
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.
US trade relations have improved substantially after years of instability due to geopolitical tensions and the ... 2023 at 5:53 AM ... The country’s biggest trading partners were Mexico, China ...
The trade relationship of the United States with Canada is the largest in the world.. In 2023, the goods and services trade between the two countries totaled $923 billion. U.S. exports were $441 billion, while imports were $482 billion, resulting in a United States $41 billion trade deficit with Canada. [1]
In 2023, the United States’ trade imbalance with the EU on goods was $209 billion, according to the Census Bureau. There were $576 billion in imports from Europe and $367 billion in exports from the United States.
The United States needs to import crude oil to meet its daily consumption needs, and Canada is its biggest foreign supplier, sending more than 4 million barrels daily, largely by pipeline.
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 ...