These graphics explain how the US trade deficit has changed, why Trump may be targeting certain countries with tariffs and what the impact could be
These graphics explain how the US trade deficit has changed, why Trump may be targeting certain countries with tariffs – and what the impact could beTrump’s policies come at a time when the US operates a large negative trade balance with the rest of the world. This happens when a country buys or imports more from other countries than it sells or exports to them.of more than $1.2tn with the rest of the world, but operated a surplus of nearly $300bn in services.
While the EU is treated as one large entity for the purposes of trade and tariffs, the data includes figures on each member state individually.Overall, when tallying the total value of imports versus exports, the US also has the world’s largest trade deficit, worth more than $1tn. Some countries export far more to the US than they import, and it is these nations Trump appears to be targeting most.
In both of these cases, the US exports a significant amount of oil to its neighbours. Trump’s initial announcement seemed to acknowledge this when he targeted energy resources by a smaller tariff rate of 10%.. Data shows that pharmaceutical products such as vaccines, machinery and cars account for nearly half of the EU’s exports to the US. Flowing the other way, from the US to the EU, is oil, pharmaceutical items and machinery.
The vast majority of trade in goods for both Canada and Mexico goes to the US – with 80% of Mexican and 78% of Canadian exported goods going to the US, according to data from
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