Who Are The Us Largest Trading Partners?

These are the biggest U.S. trade partners

  • China – $636 billion.
  • Canada – $582.4 billion.
  • Mexico – $557 billion.
  • Japan – $204.2 billion.
  • Germany – $171.2 billion.
  • South Korea – $119.4 billion.
  • United Kingdom – $109.4 billion.
  • France – $82.5 billion.

Who does US export to the most?

Rounding out the list of America’s top trading partners in terms of U.S. export sales, the following ten countries ranked highest in 2017.

  1. Canada: US$282.5 billion (18.3% of total US exports)
  2. Mexico: $243 billion (15.7%)
  3. China: $130.4 billion (8.4%)
  4. Japan: $67.7 billion (4.4%)
  5. United Kingdom: $56.3 billion (3.6%)

Who are China’s biggest trading partners?

China’s Top Trading Partners

  • Netherlands: $73.1 billion (2.9%)
  • United Kingdom: $57 billion (2.3%)
  • Singapore: $49.8 billion (2%)
  • Taiwan: $48.7 billion (2%)
  • Russia: $48 billion (1.9%)
  • Australia: $47.5 billion (1.9%)
  • Malaysia: $45.8 billion (1.8%)
  • Mexico: $44.1 billion (1.8%)

What country is the United States most important trading partner quantitatively?

What country is the United States’ most important trading partner, quantitatively? Canada is the United States’ most important trading partner (In 2004, 24 percent of U.S. exports, 18 percent of U.S. imports).

What nations do the US trade with?

These Nations Provide Billions of Dollars in Trade

  1. Mexico. The primary exports to the U.S. from south of the border are manufactured or assembled goods, such as automobiles, computers and machinery.
  2. Canada.
  3. Japan.
  4. South Korea.
  5. United Kingdom.
  6. Ireland.
  7. India.
  8. The Economic Climate.
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What country imports the most American cars?

America’s Largest Car Import Partners

  • Mexico. Mexico is America’s top exporter of new vehicles.
  • Canada. Canada is the second largest vehicle exporter to the US.
  • Japan. Japan is the third largest exporter of new vehicles to the US.
  • Germany. Germany is the largest EU exporter of vehicles to the US.
  • South Korea.
  • United Kingdom.
  • Others.

What are the top 3 exports and top 3 imports of the United States?

United States Top 10 Imports

  1. Machinery including computers: US$386.4 billion (14.8% of total imports)
  2. Electrical machinery, equipment: $367.1 billion (14%)
  3. Vehicles: $306.7 billion (11.7%)
  4. Mineral fuels including oil: $241.4 billion (9.2%)
  5. Pharmaceuticals: $116.3 billion (4.5%)
  6. Optical, technical, medical apparatus: $93.4 billion (3.6%)

Why is China our biggest trading partner?

China is America’s largest trading partner, with annual trade in goods and services worth about $663 billion. Chinese exports to the U.S. totaled nearly $500 billion in 2015 — more than any other destination. The value of U.S. trade with Canada is $662 billion, just a smidge less than China.

Who is Russia’s largest trading partner?

List of the largest trading partners of Russia

Rank Country Export (2011)
1. Netherlands 46
2. China 35
3. Germany 31
4. Ukraine 29

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What is China biggest export to the US?

China’s Top 10 Exports

  • Electrical machinery, equipment: US$664.4 billion (26.6% of total exports)
  • Machinery including computers: $430 billion (17.2%)
  • Furniture, bedding, lighting, signs, prefab buildings: $96.4 billion (3.9%)
  • Plastics, plastic articles: $80.1 billion (3.2%)
  • Vehicles: $75.1 billion (3%)

What country has the highest trade deficit?

The 30 largest trade partners of the United States represent 87.9% of U.S. exports, and 87.4% of U.S. imports as of 2017. These figures do not include services or foreign direct investment.

3,405,329.

Country China
Exports 123,676
Imports 446,754
Trade Deficit 343,078

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Why is a quota more detrimental to an economy?

A quota that results in the same level of imports as a tariff is more detrimental to an economy because the government loses tax revenue. Study after study finds that the costs to consumers substantially exceed the gains to producers and government.

What is the WTO and how does it relate to international trade?

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments.

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What are the top 5 countries that the US imports from?

Five countries make up over half of all U.S. imports. They are China, Canada, Mexico, Japan, and Germany. The United States imported the most goods from Canada until 2007 when China replaced our neighbor to the north. In 2018, these five countries supplied 58% of the $2.4 trillion in U.S. imports of goods.

Which country is the United States largest trading partner?

These are the biggest U.S. trade partners

  1. China – $636 billion.
  2. Canada – $582.4 billion.
  3. Mexico – $557 billion.
  4. Japan – $204.2 billion.
  5. Germany – $171.2 billion.
  6. South Korea – $119.4 billion.
  7. United Kingdom – $109.4 billion.
  8. France – $82.5 billion.

What country imports the most?

The United States was the largest beef importer in the world in 2018 followed by China & Japan. The United States, China & Japan accounted for roughly 41% of the world’s beef imports. The United States accounted for roughly 16% of the world’s beef imports.

What country exports the most cars?

Below are the 15 countries that exported the highest dollar value worth of cars in 2018.

  • Germany: US$154.7 billion (20.8% of total cars exports)
  • Japan: $99.1 billion (13.3%)
  • United States: $51.4 billion (6.9%)
  • Mexico: $49.4 billion (6.6%)
  • United Kingdom: $42 billion (5.6%)
  • Canada: $41 billion (5.5%)

What country has the most cars?

List of countries by vehicles per capita

# Country Motor vehicles per 1,000 people
1 San Marino 1,263
2 Monaco 899
3 New Zealand 839
4 United States 837

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How many cars does Germany export to the US?

German automakers sold 1.35 million vehicles in the United States in 2017, about 8% of total US car sales. Of those, only 494,000 were exported from Germany to the United States — 25% less than in 2013, according to the German carmakers association.

What are the top 3 exports and top 3 Imports of China?

China’s Top 10 Imports

  1. Electrical machinery, equipment: US$521.5 billion (24.4% of total imports)
  2. Mineral fuels including oil: $347.8 billion (16.3%)
  3. Machinery including computers: $202.3 billion (9.5%)
  4. Ores, slag, ash: $135.9 billion (6.4%)
  5. Optical, technical, medical apparatus: $102.5 billion (4.8%)
  6. Vehicles: $81.5 billion (3.8%)

What goods are imported to the US?

According to the Bureau of Economic Analysis, the U.S. imported $239.2 billion worth of goods in March compared to exports of just $187.8 billion. Fuel, especially crude oil, is still a major import for many US states. Not coincidentally, machinery and transportation is the second most highly imported commodity.

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What are the top 3 exports?

America’s Top 10 Exports

  • Machinery – $206 billion.
  • Electronic equipment (including computers) – $170 billion.
  • Spacecraft and aircraft – $131 billion.
  • Cars – $127 billion.
  • Petroleum – $106 billion.
  • Medical equipment – $83 billion.
  • Plastics – $60 billion.
  • Gems, precious metals, and coins – $58 billion.

What percentage of Chinese exports go to the US?

18 percent

How much does China export to USA?

U.S. goods exports to China in 2018 were $120.3 billion, down 7.4% ($9.6 billion) from 2017 but up 72.6% from 2008. U.S. exports to China are up 527% from 2001 (pre-WTO accession). U.S. exports to China account for 7.2% of overall U.S. exports in 2018.

What does the US export most?

One-third of exported goods are capital goods ($562 billion). Another third of exported goods is industrial supplies ($539 billion). The largest sub-category is chemicals ($62 billion). Next are petroleum products ($111 billion), fuel oil ($42 billion), and plastic ($38 billion).

What is the main aim of WTO?

The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

Why did WTO replace GATT?

GATT came into effect on 1 January 1948 and was refined over eight rounds of negotiations, leading to the creation of the World Trade Organization (WTO), which replaced GATT in 1995. GATT was focused on trade in goods and aimed to liberalize trade by reducing tariffs and removing quotas among member countries.

What is the main objective of WTO?

The WTO has six key objectives: (1) to set and enforce rules for international trade, (2) to provide a forum for negotiating and monitoring further trade liberalization, (3) to resolve trade disputes, (4) to increase the transparency of decision-making processes, (5) to cooperate with other major international economic

Photo in the article by “Wikipedia” https://en.wikipedia.org/wiki/Foreign_trade_of_the_United_States

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