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Foreign Trade in Figures

The U.S. is the world's largest importer and second-largest exporter of goods, as well as the largest importer and exporter of commercial services. Nevertheless, trade represents only 25% of its GDP (World Bank, 2024 – latest data available). The country signed 14 reciprocal free trade agreements, 5 preferential trade programs, 51 trade and investment framework agreements, and 48 bilateral investment treaties (LOC). U.S. top identified exports in 2025 were refined petroleum oils (5.0%), crude oil (4.6%), petroleum gas (3.8%), gold (3.7%), computers (2.8%), and vaccines and other blood products (2.6%), whereas imports included computers (7.2%), motor cars (5.2%), crude oil (4.2%), telephones (4.1%), vaccines and other blood products (3.1%), and medicaments (2.7% - data Comtrade).

The country's main export partners in 2025 were Mexico (15.5%), Canada (15.1%), China (4.9%), the United Kingdom and the Netherlands (4.4% each), Germany and Japan (3.8% each); as imports came chiefly from Mexico (15.4%), Canada (11.2%), China (9.3%), Taiwan (5.9%), Vietnam (5.7%), Germany (4.5%), and Japan (4.3% - data Comtrade). Historically, the U.S. has taken the view that trade promotes economic growth, social stability, democracy and better international relations. However, in recent years the trend has reversed, with the insurgence of several trade disputes (particularly with China, accused of unfair trade practices). In 2025, the Trump administration imposed sweeping tariffs under the International Emergency Economic Powers Act (IEEPA), including “reciprocal” tariffs on most trading partners from April and specific duties on Canada, Mexico, and China. In February 2026, the Supreme Court ruled that IEEPA does not authorise the President to impose tariffs; the administration immediately replaced them with a temporary 10% global tariff under Section 122 of the Trade Act, itself replaced on 24 July 2026 by new Section 301 duties of 10% to 12.5% depending on the country. Sectoral tariffs under Section 232 (steel, aluminium, automobiles, etc.) and existing Section 301 duties on China remain in force.

The U.S. trade balance is structurally negative. In 2025, exports of goods rose by 6.0% to USD 2,185.2 billion, while imports increased by 4.4% to USD 3,506.6 billion (WTO). Despite being a net importer of goods, the U.S. are a net exporter of services: in 2025, services exports totalled USD 1,232.4 billion (+6.9% y-o-y) against USD 903.3 billion in imports (+7.4% y-o-y – WTO). According to preliminary figures from the BEA, the goods and services deficit reached USD 901.5 billion in 2025, a decrease of USD 2.1 billion from USD 903.5 billion in the previous year. Exports totalled USD 3,432.3 billion, rising by USD 199.8 billion year-on-year, while imports amounted to USD 4,333.8 billion, up USD 197.8 billion.