As Trump struggles to get a NAFTA deal going on account of Canada, the above chart puts things into perspective.
Canada is the US’s largest export partner. Moreover, when it comes to goods (as opposed to goods and services), the US consistently runs a trade surplus with Canada.
The US has had a goods surplus with Canada every month since 1985. Nonetheless, Trump is incredibly annoyed at Canada and threatens to put tariffs on Canadian cars.
Here’s the broad picture.
US Balance of Trade 2011-2017
I created the above chart from downloads of these three Census Department files.
Notes
- Hong Kong, Singapore, and Taiwan were added in 2015.
- The format of the reports changed in 2014, but that link has annual totals that date back to 2011.
- Prior to 2014 there was no Exhibit 20 (selected countries).
2018 Subtotals
Mid-year 2018, the US is still running an overall trade surplus with Canada, so this will likely be the fourth year the US records a trade surplus with Canada (total the first two highlighted columns).
Nonetheless, Trump is moaning. And the global chart shows it’s over very insignificant totals.
This is the true nature of the “worst trade deal in history” where Canada is now more important than Mexico.
NAFTA negotiations are at an impasse.
As President Trump threatens to ink a deal with Mexico by Sept. 30 and leave Canada behind, the New York Times asks Can Nafta Be Saved? These Two Negotiators Are Trying.
…click on the above link to read the rest of the article…
