What does the United States import from Mexico, Canada and China?

WASHINGTON, DC – MARCH 22: U.S. President Donald Trump holds up a presidential memorandum signed… [+] targeting what he calls Chinese economic aggression in the Roosevelt Room of the White House on March 22, 2018 in Washington, DC. (Photo by Mark Wilson/Getty Images)

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Comments made this week by President-elect Donald Trump about raising tariffs once he takes office have raised fears of a new trade war. Trump has said he wants to impose 25% tariffs on all goods from Canada and Mexico and he has also proposed an additional 10% tariff on Chinese goods. The outgoing president said the three countries should curb the production and cross-border trade of fentanyl, which enters the United States in large quantities and is responsible for many drug overdoses in the country. Another accusation Trump makes against Mexico and Canada is that these two countries fail to effectively stop illegal immigration to the United States.

Tariffs on America's neighbors would mean Trump would end the U.S.-Mexico-Canada Free Trade Agreement that his administration negotiated and signed in 2018 to succeed the North American Free Trade Agreement, NAFTA for short. While this shows that Trump is potentially willing to derail even his own deals, it also demonstrates that trade issues are not necessarily at the heart of these deals, but rather are used to pressure partners. It is unclear whether Trump will implement the tariffs in case his demands are not met, but his track record indicates it is possible.

This chart shows the highest value imports in trade between the United States and Mexico/Canada/China in… [+] 2022 (in billions of US dollars).

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One trading partner that takes this approach particularly hard is China, which introduced tariffs in retaliation the last time Trump raised tariffs on the country's goods, causing a rapid escalation of the trade war. . Mexico also threatened to levy tariffs on U.S. products entering the country if Trump imposed tariffs on theirs. Canadian officials evaded the question. However, both countries have also indicated their willingness to negotiate. China, on the other hand, is known for playing hardball, which, coupled with the same attitude on the US side, could signal a repeat of the 2018/2019 tariff spiral.

Trump chooses his biggest trading partners

The three countries in question are the United States' main trading partners. The main products traded with them include items from the machinery and transport sectors, including cars and automobile parts, but also mineral fuels. Cars in general are the largest U.S. import by value and higher prices are expected if tariffs were to be leveled. Major automakers with factories in Mexico and Canada include General Motors, Ford and Stellantis. Imports from China focus more on machinery, such as electrical and electronic products, but the country also ships plastics and miscellaneous items to the United States.

If retaliatory measures become a reality, U.S. exporters could be hit hard again. In 2018-2019, agricultural producers lost more than $25 billion due to the lack of exports to China, which had to be compensated by the federal government. This time around, the impact could be even more disastrous as China now buys more agricultural products from the United States than before. This is the result of another Trump-era deal, the so-called Phase 1 deal of 2020, in which China, among other things, agreed to buy more American agricultural products, ultimately making it the largest international buyer. The largest U.S. export to China in 2022 was soybeans, worth $18 billion, according to data released by the Economic Complexity Observatory.

In addition to other agricultural products, China purchases many integrated circuits and petroleum products from the United States. Exports to Canada and Mexico are more diversified, and tariffs could hit exporters in many different sectors. The same goes for imports from China, which are more diverse than those from Canada and Mexico, which could make many different products more expensive for U.S. buyers if blanket tariffs become a reality .

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