Last year, the US trade deficit in the goods targeted a record, as US consumers removed imported products and a strong US dollar is on the rise in exports.
Data released by the Department of Trade on Wednesday morning shows that US imports of US goods and services have increased by 6.6 percent to $ 4.1 trillion, as Americans have weight loss medicines, auto parts, computer And bought food.
The world’s overall US exports rose to $ 3.19 trillion in 2024, which is 3.9 % higher than last year, as the United States sold the world to chips, computers, airplanes and business services to the world, but fewer cars And car parts.
The US total trade deficit in goods and services, which contains exports minus imports, increased by 17 % to $ 918.4 billion.
The United States recorded its largest trading deficit in goods with China, followed by $ 295.4 billion, followed by the European Union, Mexico, Vietnam and then Ireland.
These trends were largely due to the strong performance of the US economy, especially compared to the rest of the world. US consumers have continued to spend heart on imports. And a strong US dollar imports imports to US consumers relatively cheap, and US exports to foreign markets are relatively expensive.
As a result of a strong dollar, the Chinese auto industry’s sales of US cars have declined globally. Exports of automotive vehicles, parts and engines have declined by $ 10.8 billion over one year, as sales of components, passenger cars, trucks and buses have decreased.
The service sector continued to develop in the US economy through the sale of US business and financial services, along with foreign spending on travel to the United States.
Since increasing imports and trade deficit partially pandemic disease, major swing has had a lasting effect. During pandemic diseases, American consumers were trapped at home, eliminating Chinese -made laptops, toys, covids tests, athletes, furniture and household exercise equipment.
Once consumers were strengthened and filled with US warehouses, they returned to the purchase in 2023, providing the Spring Board for more growth in imports last year.
The consumption of US pharmaceuticals also revealed in trade data, said Brad Setts, a economist at the Council for Foreign Relations. He said that the pharmaceutical giant is developing its popular weight loss medicines in Ireland and sending them to the United States, which has helped to advance the trade deficit.
Trade flow can be rotated over the next year as President Trump is preparing to fight global trade wars.
On Saturday, Mr Trump signed an executive order, which imposed sweeping taxes on the closest trade partners in the United States. He said the purpose of prices was to push Canada, Mexico and China so that they could stop the flow of migrants on the border – one of its major domestic policy matters – as well as to stop the deadly drug shipment. , And when it comes to the matter, the United States offers better terms. Trade relationships.
Both Canada and Mexico earned light revenue on Monday, after Mr Trump agreed to delayed 25 % taxes for a month. But 10 % additional tariffs on all imports from China – more than $ 450 billion worth of goods – implemented Tuesday morning, and the Chinese government led to retaliation.
Beijing said it would cost about $ 20 billion in US exports, starting next Monday, while wearing wolves on mineral exports, and an antimonopoli investigation in Google will be launched.
