by Mish

Data is from the latest Census Department report on International Trade.

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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

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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?

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