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Crude Oil Imports Propel U.S. Trade Deficit with Canada
The U.S. goods trade deficit with Canada reached $75 billion in the 12 months ending September 2024, while the combined goods and...
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Jan 41 min read
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The Rise and Fall of U.S. Trade Liberalism with China
The U.S. trade deficit with China as a percentage of GDP Rise from 1980s, matured in the mid-2010s to 2018, and declined since 2018. Key...
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Jan 41 min read
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Fuels and Crude Materials Account for Nearly Half of U.S. Imports from Canada
In the 12 months ending September 2024, U.S. imports from Canada reached $425 billion. Fuels and related materials led the imports at...
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Jan 41 min read
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Machinery, Transport Equipment, and Manufactured Goods Make Up 75% of U.S. Exports to Canada
In the 12 months ending September 2024, U.S. exports to Canada totaled $350 billion. Machinery and transport equipment dominated at $149...
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Jan 41 min read
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European Union Exports to the U.S.: Key Product Categories
Pharmaceuticals, Machinery, and Automotive Comprise Half of EU Exports to the U.S. In the 12 months ending September 2024, European Union...
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Jan 41 min read
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U.S. Related-Party Trade Accounts for Over Half of Canada's Goods Exports to the U.S.
U.S. Census data shows that U.S. related-party trade* constituted 53% ($215 billion) of Canada's goods exports to the U.S. in 2023,...
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Jan 41 min read
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U.S.-Canada Goods and Services Trade (TTM, Sept. 2024):$441 Billion Exports, $479 Billion Imports, $38 Billion Deficit
In the 12 months ending September 2024 (TTM), U.S. goods and services exports to Canada totaled $441 billion, while imports from Canada...
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Jan 41 min read
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Trade War and Higher Tariffs Led to Higher Trade Deficit for the U.S.
During the Obama administration, the U.S. goods trade deficit grew at a modest compound annual growth rate (CAGR) of 0.7%. Despite the...
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Jan 41 min read
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Trends in the U.S. Goods Trade Deficit from 1992 to Q3 2024
The U.S. goods trade deficit has undergone significant changes over the past three decades, shaped by global economic shifts, trade...
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Jan 41 min read
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EU Trade Surplus with the U.S. vs. Trade Deficit with China
From the third quarter 2022 to August 2024, European Union's goods trade surplus with the U.S. increased by 23% from €150 billion (TTM)...
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Jan 41 min read
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EU Exports to U.S. Surge Post-Ukraine War, While Exports to China and Russia Decline
From 2021 to August 2024, EU exports to the U.S. rose by 31.1%, contrasting with a 19.2% decrease in exports to China and Russia...
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Jan 41 min read
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U.S. Becomes Leading EU Trade Partner, Surpassing China and Russia
The U.S. share of total EU trade rose from 14.7% in 2021 to 17.3% by August 2024 (TTM). In contrast, China’s share declined from 16.2% to...
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Jan 41 min read
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Global Growth in Services Trade Surpasses Goods Trade Post-2010
From 1980 to 2011, global services trade grew at an annual growth rate (CAGR) of 7.9%, slightly outpacing the 7.3% growth in goods trade....
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Jan 41 min read
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U.S. and China: Economic Interdependence through Trade
Trade between the U.S. and China has declined relative to each country's GDP. U.S. trade with China fell from 3.2% of GDP in 2018 to 2.2%...
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Jan 41 min read
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EU Trade Surplus with the U.S. vs. Growing Deficit with China
In 2023, the European Union's goods trade balance with the U.S. stood at +$126 billion, while its deficit with China reached -$387...
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Jan 41 min read
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U.S. and China Compete for EU Trade Leadership Since 2010
In 2023, the European Union's goods trade with the U.S. reached $942 billion, 10% higher than its trade with China at $855 billion. After...
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Jan 41 min read
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China's Share of U.S. Trade Deficit Shrinks from 47% to 26% Amid Trade War
From 2018 to 2023, China's share of the U.S. trade deficit dropped from 47% to 26%, while the combined deficit with Japan, South Korea,...
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Jan 41 min read
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U.S. Global Trade Balance in 2023
In 2023, the U.S. goods trade deficit amounted to $1.153 trillion. The deficit with China reached $300 billion, representing 26% of the...
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Jan 31 min read
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Top Global Trading Partners of the U.S. in 2023
In 2023, U.S. trade totaled $5,192 billion. Trade with NAFTA partners—Mexico ($803 billion) and Canada ($784 billion)—accounted for 30.6%...
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Jan 31 min read
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