1 Answer | Add Yours
In the United States today, when we think of our trading partners, we generally think of countries in which workers get very low wages. We feel that most of our trade is with countries like China or Mexico because those countries are relatively poor and have workers who can undercut us by working for low wages. While China and Mexico are important trading partners, neither is our biggest trading partner.
Our 5th biggest trading partner is Germany. Germany, however, accounts for only 4.2% of our total trade. The next biggest trading partner is Japan. Japan accounts for 5.4% of our total trade. After that, there is a very big jump to the top three trading partners. The third largest trading partner is Mexico. It accounts for 13.3% of our trade. China is our second biggest trading partner. Our trade with China amounts to 13.5% of our total trade.
This leaves Canada as our biggest trading partner. Its proximity to us and its wealth make it our biggest trading partner. Trade with Canada is 16.8% of our total trade.
We’ve answered 318,917 questions. We can answer yours, too.Ask a question