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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, Mexico is still the second largest trading partner of the United States after Canada. [1]
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.
For most economies worldwide, their leading export and import trading partners in terms of value are typically the United States, 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 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 ...
Mexico, instead, supplanted China as the No. 1 trading partner of the U.S.
Leaders and other top officials warned a trade war could erupt and economies be damaged, and sought talks with Trump after the surprise announcement, which includes an extra 10% levy on Chinese ...
List of the largest trading partners of the United States This page was last edited on 15 September 2017, at 12:47 (UTC). Text is available under the Creative Commons ...
It’s easy to see how a similar story could play out in 2025 as Trump has vowed to impose 60% tariffs on China, a leading US trading partner and source of supplies and parts for American companies.