US' Major Trading Partners (Graphs)

US' Major Trading Partners (Graphs)

By The Market Mogul, Sept. 5, 2017

Editor’s Remarks: One only needs to take a quick look at the data of the US’s overall trade in goods to see that a renegotiation of the North American Free Trade Agreement (NAFTA) with Canada and Mexico is a big deal. Canada is the US’s largest trading partner, with a total of over $290bn of two-way trade and making up 15.3% of the US’s total. Mexico comes in at No. 3, making up 14.5% of US’s total trade. But the problem for the Trump administration is the balance of trade, with both countries in surplus against the US, and this is why Trump has labelled NAFTA the “worst trade deal ever.” Canada and Mexico are not alone – all of the US’s top six trading partners have a surplus over the US, and the Trump administration seems equally determined to renegotiate trade terms, or start a trade war, with China, Germany and South Korea.

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