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Latest trade data
The US trade deficit swelled in January to a record $131.4bn, from a $98.1bn deficit in December. Economists said the increase was due at least in part to companies rushing to stockpile goods before the imposition of tariffs.
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Since taking office, US President Donald Trump has applied a blanket tariff of 25 per cent to all steel and aluminium imports, while steep new tariffs on vehicles are set to apply from April 2.
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Interactive: explore global trade
The US is the world’s largest single importer, playing a crucial role in the global flow of goods. But trade volumes and partners vary considerably by sector.
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Overview of US trade in goods
Mexico has been the largest foreign supplier of goods to the US annually since 2023, following a decline in imports from China after tariffs were introduced during Trump’s first term as president.
Canada, China and Mexico are the three largest suppliers to the US, accounting for more than 40 per cent of imported goods.
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Overall, the US runs an annual global trade in goods deficit in excess of $1tn, but the picture varies considerably on a per-country level.
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Canada (fuel), China (electrical equipment) and Mexico (vehicles) each export to the US at least one category in excess of $100bn.
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Mexico and Canada are far more reliant on exporting to the US than other G20 countries.
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Overview of trade in services
According to the OECD, the top three suppliers of services to the US in 2023 were the UK (13.4 per cent of total US service imports), Canada (6.8 per cent) and Germany (6.4 per cent).
The top export markets for US services in the same period were Ireland (12.3 per cent of US services exports), Canada (7.6 per cent) and the UK (7.3 per cent).
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Explore individual trade in services country data (imports, exports and overall balance) using the interactive chart below:
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Additional development by Caroline Nevitt and Eade Hemingway
