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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.
The US exported goods and services to a record 39 countries in 2022 with the most goods going to Canada, Mexico, China, Japan, and the United Kingdom, according to USA Facts.
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]
Barclays estimates that protectionist policy disruptions to trade between the US and the targeted countries would drag down S&P earnings-per-share growth, a chief driver of this year's market ...
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.
Betts, Richard K. "Wealth, power, and instability: East Asia and the United States after the Cold War". International Security 18.3 (1993): 34–77. online; Burns, Richard Dean, and Edward Moore Bennett, eds. Diplomats in crisis: United States-Chinese-Japanese relations, 1919-1941 (1974) short articles by scholars from all three countries. online
The deal, which Trump signed into law, took effect in 2020 and continued the largely duty-free trade between the three North American countries; the deal sunsets in 2026.
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 ...