Who is the US's biggest trading partner?
For most economies in the world, their leading export and import trading partner in terms of value is either the European Union or China, and, to a certain degree, the United States or Russia.
For most economies in the world, their leading export and import trading partner in terms of value is either the European Union or China, and, to a certain degree, the United States or Russia.
China is currently our largest goods trading partner with $559.2 billion in total (two way) goods trade during 2020. Goods exports totaled $124.5 billion; goods imports totaled $434.7 billion. The U.S. goods trade deficit with China was $310.3 billion in 2020.
- United States: US$582.8 billion (16.2% of China's total exports)
- Hong Kong: $297.5 billion (8.3%)
- Japan: $172.9 billion (4.8%)
- South Korea: $162.6 billion (4.5%)
- Vietnam: $147 billion (4.1%)
- India: $118.5 billion (3.3%)
- Netherlands: $117.7 billion (3.3%)
- Germany: $116.2 billion (3.2%)
The top five purchasers of U.S. goods exports in 2022 were: Canada ($356.5 billion), Mexico ($324.3 billion), China ($150.4 billion), Japan ($80.2 billion), and the United Kingdom ($76.2 billion).
China, Canada and Mexico are the country's largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports. But this landscape could be reshaped as President Trump pursues “America First” policies and reworks free trade deals.
Mexico became the top U.S. trading partner at the beginning of 2023, with total bilateral trade between the two countries totaling $263 billion during the first four months of this year. Mexico's emergence followed fractious U.S. relations with China, which had moved past Canada to claim the top trading spot in 2014.
| Rank | Country | Percent of Total Trade |
|---|---|---|
| --- | Total, All Countries | 100.0% |
| --- | Total, Top 15 Countries | 74.6% |
| 1 | China | 16.9% |
| 2 | Canada | 14.8% |
China has shifted purchases away from the United States to reduce its reliance on US suppliers, but US farmers remain highly dependent on the Chinese market. In 2022, around 19 percent of US agriculture exports went to China, up from 14 percent in 2017 and 13 percent in 2009.
What is China's main export to the US?
| China Exports to United States | Value | Year |
|---|---|---|
| Machinery, nuclear reactors, boilers | $109.64B | 2022 |
| Toys, games, sports requisites | $36.96B | 2022 |
| Furniture, lighting signs, prefabricated buildings | $34.54B | 2022 |
| Plastics | $27.37B | 2022 |
China is Africa's largest trading partner, surpassing the United States in 2009. In 2012, China's trade with Africa reached $198.5 billion, while U.S.-African trade in 2012 was $99.8 billion. China's trade with Africa is only 5 percent of its global trade total.
- Minerals, fuels, and oil – $241.4 billion.
- Pharmaceuticals – $116.3 billion.
- Medical equipment and supplies – $93.4 billion.
- Furniture, Lighting, and Signs – $72.1 billion.
- Plastics – $61.9 billion.
- Gems and precious metals – $60.8 billion.
- Organic chemicals – $54.6 billion.
The most recent exports are led by Refined Petroleum ($83.3B), Petroleum Gas ($70.9B), Crude Petroleum ($67.6B), Cars ($55.4B), and Integrated Circuits ($51.3B). The most common destination for the exports of United States are Canada ($259B), Mexico ($247B), China ($151B), Japan ($71.8B), and South Korea ($66.4B).
The top five source countries of U.S. gross petroleum imports in 2022 were Canada, Mexico, Saudi Arabia, Iraq, and Colombia. Note: Ranking in the table is based on gross imports by country of origin. Net import volumes in the table may not equal gross imports minus exports because of independent rounding of data.
| Rank | U.S. Trade Partners | Goods Trade Deficit (in billion U.S. dollars) |
|---|---|---|
| #1 | 🇨🇳 China | $355.3 |
| #2 | 🇲🇽 Mexico | $108.2 |
| #3 | 🇻🇳 Vietnam | $91.0 |
| #4 | 🇩🇪 Germany | $70.1 |
America's biggest trading partners are Mexico, Canada, and China. In 2022, the US imported $4 trillion in goods and services and exported $3 trillion.
Main world traders: EU, USA and China
Together, these countries accounted for around 45 % of global imports and 44 % of global exports of goods (see Figure 1).
The three largest global players of international trade: EU, China and the USA.
