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February 27, 2017

Just 10 Countries Are Responsible For More Than 90 Percent Of U.S. Goods Trade Deficit

According to the Coalition for a Prosperous America (CPA), in 2016 the United States ran an overall $946 billion trade deficit in goods. CPA notes that deficit is driven by an imbalance in trade with just a “handful of countries.” Together these ten countries represented nearly 90 percent ($835 billion) of the total U.S. goods trade deficit. According to CPA, those ten nations and the U.S.’s deficit with them are:  

  • China, $337 billion: Driven mostly by machinery and electronics, which together account for more than half of the deficit.
  • Mexico, $115 billion: Driven mostly by vehicles, electronics and machinery.
  • Japan, $75 billion: Driven mostly by vehicles, electronics and machinery.
  • Germany, $70 billion: Driven mostly by vehicles, electronics, machinery, and medical products and chemicals.
  • Canada, $58 billion: Driven mainly by vehicles and fossil fuels.
  • Ireland, $36 billion: Driven mostly by pharmaceuticals, organic chemical and medical equipment.
  • Vietnam, $34 billion: Driven mostly by clothing and apparel.
  • South Korea, $32 billion: Driven mostly by vehicles, machinery and electronics.
  • Italy, $30 billion: Driven mostly by vehicles, machinery and electronics.
  • India, $30 billion: Driven mostly by medical supplies and apparel.