by Mish
Data is from the latest Census Department report on International Trade.
Canada vs China
- Exports to Canada: 89,673
- Imports from Canada: 98,174
- Canada Sum: 187,847
- Exports to China: 39,335
- Imports from China: 145,816
- China Sum: 185,151
On a bilateral basis, Canada is the US’s largest trading partner.
Trade Deficit Breakdowns
- China alone accounts for 43.66% of the deficit.
- China, Mexico, Japan, and Germany account for 70.59% of the deficit.
- China and the Eurozone account for 59.17% of the deficit.
- China, Mexico, Japan, and the Eurozone account for 76.65% of the deficit.
- Canada, the US’s largest trading partner, accounts for only 3.49% of the deficit.
This is what has Trump upset. But he is barking up the wrong tree when he blames NAFTA.
For discussion, please see Disputing Trump’s NAFTA “Catastrophe” with Pictures: What’s the True Source of Trade Imbalances?
