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The White House said the Trump administration would first review countries with the biggest trade shortages or significant imbalance with the United States.
US President Donald Trump has an administrative order on the increase in fees at the White House Oval Office in Washington, USA. (Picture: Reuters)
Countries that run the largest trade surplus with the US may be the first target of “mutual” fees announced by President Donald Trump.
Officials said the fees could be released as soon as April was completed.
The White House said the Trump administration would begin by examining countries with the biggest scarcity of the United States or the biggest imbalance.
Look at countries exporting to the US rather than importing:
Perennial champion China
China, the world’s second largest economy, is the highest trade surplus with the United States.
The US-China trade gap reached 5 295.4 billion last year, according to the Economic Analysis Bureau of the US Trade Department (PAE).
China, known as the World Factory, produces goods to Chinese and foreign companies, including US companies, and then exported worldwide.
Trump also accused Yuan of handling Beijing to make Chinese -made products more competitive abroad.
The US leader, who launched a trade war with China during his first term, imposed 10 percent of the fees earlier this month, provoking duties from Beijing.
‘Brutal’ i
Last year, the United States had a $ 235.6 billion trade deficit with the 27 Nation European Union. Trump accused the European Union of being “completely cruel” in business relations with Washington.
Ireland’s largest trade surplus has $ 86.7 billion, but it is part of the US companies that have used the country’s lowest corporate tax.
Europe’s best economy and key car exporter Germany got $ 84.8 billion and Italy at $ 44 billion.
Although US official statistics show that France has $ 16.4 billion surplus with the US, French customs data reports a multi -billion dollar deficit to the European country because they do not take into account the same number.
Mexico and Vietnam
Mexico finished third with $ 171.8 billion surplus in trade with the United States, followed by Vietnam $ 123.5 billion.
The two countries have become popular among multinational corporations looking for low -cost production to export to big markets.
Mexico has made its profit from its proximity and toll -free access to the United States, becoming the best export of the world’s largest economy.
Many American companies have created factories there, and Chinese companies are also using the country to access the US market.
Vietnam has benefited as an alternative manufacturing base in Asia as the US intensified pressure on China.
During the first Trump administration, the two countries have risen their trade surplus.
Other top 10 surplus countries
Taiwan topped the top five with a $ 73.9 billion trade surplus.
It was followed by Japan ($ 68.5 billion), South Korea ($ 66 billion), Canada ($ 63.3 billion), India ($ 45.7 billion) and Thailand ($ 45.6 billion).
(This story is not edited by News 18 staff, which is published from an integrated news agency feed – AFP)
- Location:
Washington DC, United States of America (USA)
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