The Office of the United States Trade Representative (USTR) is responsible for the preparation of this Report. Gold imports, nonmonetary - This addition is made for gold sold by foreign official agencies to private purchasers out of stock held at the Federal Reserve Bank of New York. 2018 : U.S. trade in goods with World, Seasonally Adjusted . Details may not equal totals due to rounding. The use of Canada's import data to produce U.S. export data requires several alignments in order to compare the two series. Data adjusted for seasonality but not price changes, Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, March 6, 2019, Exports, Imports, and Balance (exhibit 1). The United States had a services trade surplus of an estimated $36 billion with China in 2019, down 4.1% from 2018. Copy link.  USITC DataWeb/USDOC, digest MM020 (accessed March 15, 2019). Computer accessories increased $5.4 billion. Trade (% of GDP) from The World Bank: Data. Those six countries together supplied about half of the total U.S. imports within this sector. Merchandise Trade statistics data for United States (USA) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. Next release: March 27, 2019, at 8:30 A.M. EDT, U.S. International Trade in Goods and Services, January 2019. The USITC conducts investigations on matters involving international trade and industry competitiveness. China–US Trade Disputes in 2018: An Overview. Because the data series for aircraft is highly variable, users studying data trends may wish to analyze trade in aircraft separately from other trade. Unlike the seasonal adjustments by commodity and by service type that are applied to the global totals, these adjustments are developed and applied directly at the country and world area levels. This despite President Trump’s efforts to revive American manufacturing & reduce dependence on imported goods. At the sector level, the increases in U.S. exports were led by three product sectors: energy-related products, transportation equipment, and chemical products. However, for the advance GDP estimate, FT-900 data for the third month are not yet available, so BEA uses data from the Advance Report. Tariffs threaten nearly 7 percent of China-US container trade 05 Apr 2018 Industrial supplies and materials increased $74.2 billion. (For more information, see the Energy-related Products, Transportation Equipment, and Chemicals and Related Products chapters. Although all sectors experienced growth in the value of their exports, some product groups within the sectors experienced a decline, lessening the overall sectoral gains. Feng Lu. Year in Trade, HTS e-learning module 10 US trade policy issues to monitor in 2018 Susan Kohn Ross, International Trade Attorney, Mitchell Silberberg & Knupp | Jan 19, 2018 6:23PM EST . 12 July 2018. US-China trade war: 'We're all paying for this' Negotiations are ongoing but have proven difficult. Search for more papers by this author. This estimate improves the current month data for exports to Canada and treats late receipts for exports to Canada in a manner that is more consistent with the treatment of late receipts for exports to other countries. Annual revisions: Each June, not seasonally adjusted goods data are revised to redistribute monthly data that arrived too late for inclusion in the month of transaction. Exports decreased $1.3 billion to $21.1 billion and imports increased $0.8 billion to $29.9 billion.  These increases were partially offset by decreases in imports of telecommunications equipment; semiconductors and integrated circuits; blank and prerecorded media; and aluminum mill products. USITC offices assist in investigating imports claimed to injure a domestic industry, in investigating violations of U.S. intellectual property rights, and in providing independent analysis and information on tariffs, trade and competitiveness. At Ports of Entry. Additions for non-reported imports of locomotives and railcars, imports of electricity from Mexico, conversion of vessels for commercial use, valuation of software imports at market value, and low-value (below reporting threshold) transactions for 1999–2009 to phase in a revised Census Bureau low-value methodology that was implemented for goods on a Census basis beginning with statistics for 2010. ... Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR): Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua. Financial services increased $4.6 billion. Further, U.S. exports of steel mill products were $954 million (7.1 percent) lower in 2018 than in 2017, driven by lower exports to Canada and Mexico. Documents. Premium supplements represent investment income from insurance reserves, which are attributed to policyholders who are treated as paying the income back to the insurer. Acknowledgements ... World Trade Statistical Review 2018 WTO18 Chapter 01 v9.indd 4 06/08/2018 16:09. They will also help Egypt achieve its goal of becoming a regional energy hub, which is also priority for the United States.” This increase in U.S. imports from Canada was partially offset by a decrease in imports of motor vehicles, lumber, and precious metals and non-numismatic coins. For imports from Canada and Mexico, this should be the cost of the goods at the U.S. border. The United States had a small trade surplus of 26.5 billion in agricultural products in 2018 (this sector is part of trade in non-petroleum products). Imports of services were revised up less than $0.1 billion. Travel (for all purposes including education) increased $4.3 billion. Each month, the U.S. Census Bureau revises the aggregate seasonally adjusted (current and real, or chained-dollar) and unadjusted export, import, and trade balance figures, as well as the end-use totals for the prior month. Chemicals and Related Merchandise Trade summary statistics data for United States (USA) including exports and imports, applied tariffs, top export and import by partner countries and top exported/imported product groups, along with development indicators from WDI such as GDP, GNI per capita, trade balance and trade as percentage of GDP for year The increase in U.S. imports from China was led by increases in imports of computers, peripherals, and parts; toys and games; and miscellaneous plastic products. China Current general fact-finding investigations being conducted by the Offices of Economics and of Industries. The Commission is a highly regarded forum for the adjudication of intellectual property and trade disputes. https://www.usitc.gov/research_and_analysis/trade_shifts_2014/trade_metrics.htm. The United States and Chile Hold the Twelfth Meeting of the Free Trade Commission under the U.S.-Chile Free Trade Agreement 2018-10-16 U.S. On the other hand, the U.S. trade deficit with Japan, South Korea, and India in 2018 decreased by $1.2 billion (1.8 percent), $5.1 billion (22.4 percent), and $1.6 billion (7.1 percent), respectively. Insurance is measured as gross premiums earned plus premium supplements less claims payable, with an adjustment for claims volatility. 1 As of December 16, 2020. Although not the target of the trade dispute, U.S. tariffs have precipitated drops in commodity prices, local currencies, and major stock exchanges. This amount of deficit growth surpassed the deficit increase of 2017, reached the highest absolute level of growth, and attained the highest yearly growth from 2014 to 2018 (table US.1). The following is a brief description of the types of services included in each category: Maintenance and repair services n.i.e. Average imports increased $12.4 billion from December 2017. Data users should use caution drawing comparisons between the two sets of seasonally adjusted series. Technical, trade-related, and other business services include architectural and engineering, construction, audio-visual, waste treatment, operational leasing, trade-related, and other business services. They reflect the opinions and research of individual authors and are not the views of the U.S. International Trade Commission or any of its individual Commissioners. Energy and Related Products U.S./Canada data exchange and substitution.  USITC DataWeb/USDOC, digest TE001 (accessed March 15, 2019). Upcoming Outreach Activities. For November, unadjusted exports of goods were revised down $0.1 billion and unadjusted imports of goods were revised up $0.1 billion. Several recurring reports are published annually as part of the Commission’s mission to provide independent tariff, trade, and competitiveness-related analysis and information. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. Average exports decreased $1.8 billion to $208.2 billion in December.  USITC DataWeb/USDOC, digest TE009 (accessed March 15, 2019). Investigations of market injury to U.S. domestic industry by foreign companies due to product dumping and/or subsidization under Sections 701 or 731 under Title VII of the Tariff Act of 1930 or injury due to substantially increase imports under sections 201 or 202 of the Trade Act of 1974 or section 302 of the NAFTA Implementation Act. Gold exports, nonmonetary - This addition is made for gold that is purchased by foreign official agencies from private dealers in the United States and held at the Federal Reserve Bank of New York. Imports of goods increased $5.1 billion to $217.2 billion in December. The 2018 figures show surpluses, in billions of dollars, with South and Central America ($41.5), Hong Kong ($31.1), Netherlands ($24.8), Australia ($15.2), and Belgium ($14.2). This column scrutinises global stock market responses to assess the effects of the trade war and finds that, on average, the US and Chinese tariffs have Transactions with U.S. military, diplomatic, and consular installations abroad are excluded because these installations are considered to be part of the U.S. economy. Share. In 2018, the United States was the largest partner for EU exports of goods (21 % of total extra-EU exports) and second largest for EU imports of goods (14 % of total extra-EU imports), after China (20 %). Issued on: December 11, 2020. Print. The two economic superpowers have been locked in a trade war since 2018 … The medicinal chemicals product group drove the increase in U.S. imports in this sector, gaining $24.0 billion (21.4 percent) and accounting for about 56 percent of the sectoral increase. Travel includes business and personal travel. This page provides access to an archive of News Releases previously published by the Bureau of Economic Analysis. Download the Brief The Issue Sub-Saharan African countries are experiencing economic distress from the U.S.-China trade war. December exports were $205.1 billion, $3.9 billion less than November exports. In particular, it grew by $27.2 billion (66.9 percent) for chemicals and related products––the largest increase in 2018. Information about the U. S. International Trade Commission’s mission and history as an independent, quasi-judicial federal agency with broad investigative responsibilities on matters of trade. Data for goods on a Census basis are compiled from the documents collected by U.S. Customs and Border Protection (CBP) and reflect the movement of goods between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and U.S. Foreign Trade Zones. (For more information, see the Agricultural Products, Electronic Products, Transportation Equipment, and Minerals and Metals chapters.). U.S. imports from China rose the most, gaining $34.0 billion (6.7 percent) in 2018 to reach $539 billion, the highest level in the last five years. Civilian aircraft engines increased $7.9 billion.  IHS Markit, Global Trade Atlas database (HS subheadings 2709, 2010, and 2011, accessed July 30, 2019). The U.S. trade deficit with China rises from $273.1 billion in 2010 to an all-time high of $295.5 billion in 2011.  (For more information about oilseeds exports to China, see the Agricultural Products and Special Topic chapters.). At the same time, exports of motor vehicles were down $1.1 billion (1.5 percent), resulting from a substantial decrease in exports to China. The US, the world's biggest economy, slipped seven places to 10th, while China fell six places to 20th. Other business services increased $7.0 billion.  USITC DataWeb/USDOC, digest FP002 (accessed March 15, 2019). Organization of Petroleum Exporting Countries (OPEC): Algeria, Angola, Congo (Brazzaville), Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela.  USITC DataWeb/USDOC, digest EP005 (accessed March 15, 2019). The repairs may be performed at the site of the repair facility or elsewhere. The full schedule is available in the Census Bureau's Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA's Web site at www.bea.gov/news/schedule. Timeliness and data capture errors: The Census Bureau captures import and export information from administrative documents and through various automated collection programs. The US trade shortfall rose to US$375.6 billion in 2017 before the start of the trade war, from US$103.1 billion in 2002. Imports of energy-related products—particularly crude petroleum, petroleum products, and natural gas and components—were mostly sourced from Canada and Mexico, as well as from three other key exporters of energy-related products: Saudi Arabia, Russia, and Venezuela. U.S. Similarly, U.S. exports of transportation equipment—particularly aircraft, spacecraft, and related equipment ($8.4 billion, 6.5 percent)—went mostly to the United Kingdom, China, France, and Germany. These services include those normally provided by banks and other financial institutions. The Largest U.S. Deficit Is With China. The statistics provide detail on U.S. trade in services by type and by country and area and detail on services supplied through affiliates by industry and by country and area. Exports decreased $9.6 billion to $120.3 billion and imports increased $34.0 billion to $539.5 billion. The services statistics cover transactions between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and other U.S. territories and possessions.  USITC DataWeb/USDOC, digest EL004 (accessed March 15, 2019). ), Table US.2 All merchandise sectors: Leading changes in U.S. exports and imports, 2014–18, Aircraft, spacecraft, and related equipment (TE013), Aircraft engines and gas turbines (TE001), Computers, peripherals, and parts (EL017), The value of U.S. general imports increased for the 10 merchandise sectors included in the report, rising a combined $200.8 billion (8.6 percent) to $2.5 trillion from 2017 to 2018. These adjustments, which are applied separately to exports and imports, are necessary to supplement coverage of the Census data, to eliminate duplication of transactions recorded elsewhere in the international accounts, and to value transactions at market prices. Sectors Charges for the use of intellectual property n.i.e. The United States-Nepal Council on Trade and Investment, under the United States-Nepal Trade and Investment Framework Agreement (TIFA) View Full Release. In addition to the U.S. International Trade in Goods and Services report (FT-900), which is released jointly with BEA, the Census Bureau also releases advance statistics on international trade in goods, along with advance estimates on retail and wholesale inventories, in the Advance Economic Indicators Report (Advance Report).  USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). The Census data only include gold that enters the U.S. customs territory. firstname.lastname@example.org; Professor, National School of Development, Peking University, China. Miscellaneous Tariff Bill (MTB) Information Page, Office of Industries The growth in exports of medicinal chemicals ($3.9 billion, 7.1 percent) was mostly due to increases in exports to European countries, particularly Italy, Germany, the Netherlands, Belgium, and the United Kingdom. India, Malaysia, Thailand, and Taiwan all saw upticks in exports to the Tariff Data for specific products, Tariff Programs, Miscellaneous Tariff Bill Petition System (MTBPS), Harmonized Tariff Schedule (HTS), HTS Search, Modifications, E-Learning Module & Help, Future Tariff Rates, Quick lookup of U.S. With the release of the "U.S. International Trade in Goods and Services, January 2019" report (FT-900), statistics for OPEC will exclude Qatar, which exited OPEC effective January 1, 2019. Personal travel covers travel for all non-business purposes, including for medical or educational purposes. United States Trade Representative Robert Lighthizer gratefully acknowledges the Imports of goods on a Census basis increased $200.8 billion. Exports of goods were revised down $0.8 billion. The December figures show surpluses, in billions of dollars, with South and Central America ($3.5), Hong Kong ($2.2), Brazil ($0.8), United Kingdom ($0.6), and Singapore ($0.4). Services supplied by and to governments are classified to specific services categories when source data permit. Inland freight in Canada and Mexico - This addition is made for inland freight in Canada and Mexico. A message from Director-General Roberto Azevêdo Faster trade expansion is being driven by stronger growth across most regions, especially i n developing economies. Exports of services were revised down less than $0.1 billion. Real exports of goods decreased $2.2 billion to $146.8 billion. Additions for sales of fish caught in U.S. territorial waters, exports of electricity to Mexico, private gift parcels, vessels and oil rigs for which ownership changes, valuation of software exports at market value, low-value (below reporting threshold) transactions for 1999–2009 to phase in a revised Census Bureau low-value methodology that was implemented for goods on a Census basis beginning with statistics for 2010, and, for periods prior to 2010, FMS goods exports reported to BEA by the U.S. Department of Defense. For total exports and imports, data users should refer to the by-commodity and by-service type totals shown in the other exhibits. The U.S. monthly international trade deficit increased in October 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. Auxiliary insurance services include agents' commissions, brokerage services, insurance consulting services, actuarial services, and other insurance services.  These increases in U.S. imports from Mexico were partially offset by a decrease in imports of consumer electronics and motor vehicles. Recent Trends Other petroleum products increased $14.4 billion. Forest Products Computer services consist of hardware- and software-related services and data processing services. The U.S. goods trade deficit with India was $23.4 billion in 2019, a 11.0% increase ($2.3 billion) over 2018. How are trading partner/regional groups defined? Imports of goods were revised up $0.2 billion. The FT-900 is the primary source for the goods trade data used in BEA's quarterly gross domestic product (GDP) statistics. Monthly revisions: Monthly data include actual month's transactions as well as a small number of transactions for previous months. The Census Bureau has determined that not all required documents are filed, particularly for exports. The US is a major trade and investment partner for the UK - … Exports of goods on a Census basis increased $117.8 billion.  U.S. exports of soybeans (HTS 1201.90.0095) led the decrease in exports of oilseeds to China. Seasonally adjusted data are also revised to reflect recalculated seasonal and trading-day adjustments. Sound statistical and holistic economic analysis of the trade dispute’s consequences is difficult due to data limitations. Administrative Law Judges conduct the trial phase of Commission investigations under section 337 of the Tariff Act of 1930 (19 U.S.C. Cell phones and other household goods increased $0.6 billion. The seasonally adjusted country and world area data will not sum to the seasonally adjusted by-commodity and by-service type totals because the two sets of statistics are derived from different aggregations of the export and import data and from different seasonal adjustment models. Meanwhile, U.S. exports of aircraft engines and gas turbines declined $766 million (7.7 percent), a decrease that was led by lower exports to countries including Saudi Arabia, Hungary, Singapore, and Canada. Monthly country and area detail is not available for goods on a BOP basis or for services. 2016 Trade Webinars Archive. See the "Key Source Data and Assumptions" table that accompanies each GDP release for more information. October 2019 Publication Number: 4986 Administrative Law Judges biographies and photos. The release schedule for the "U.S. International Trade in Goods and Services" report for the remainder of 2019 has been revised to reflect delays related to the recent lapse in federal funding. Imports increased $217.7 billion or 7.5 percent. Services are seasonally adjusted when statistically significant seasonal patterns are present. How is this information organized? Travel (for all purposes including education) - Includes goods and services acquired by nonresidents while abroad. Border Patrol History. , At the sector level, U.S. imports of merchandise in 2018, like U.S. exports, were concentrated in the energy-related products, chemicals, and transportation equipment sectors (table US.1). These revisions result from forcing the seasonally adjusted months to equal the annual totals. In particular, exports of oilseeds dropped $4.3 billion (19.9 percent), driven by a reduction in exports to China (table US.2). The 2018 increase in the goods and services deficit reflected an increase in the goods deficit of $83.8 billion, or 10.4 percent, to $891.3 billion and an increase in the services surplus of $15.0 billion, or 5.9 percent, to $270.2 billion. Figure US.2 Total trade between the United States and its five largest single-country trading partners, 2018 (billion $), While the value of U.S. exports to China decreased by $9.6 billion (7.4 percent) from 2017 to 2018, the value of exports to Canada and Mexico increased over the same period, gaining $16.5 billion (5.8 percent) and $21.7 billion (8.9 percent), respectively. The CIF (cost, insurance, and freight) value represents the landed value of the merchandise at the first port of arrival in the United States. Combined, these three sectors accounted for over one-third of the growth in the value of U.S. total exports in 2018 (table US.1). They include both additions to and deductions from goods on a Census basis and are presented in this release as net adjustments. Insurance services decreased $13.0 billion.  The main markets for U.S. exports of these products were major U.S. trading partners, including Canada and Mexico, as well as markets such as Taiwan and India. What are special provision exports and imports? This agreed consultation will help to inform our overall approach to our future trade relationship and trade negotiations with the US. Which 8-digit HTS subheadings are included in each? Computer accessories increased $0.7 billion. U.S. International Trade in Goods, Balance of Payments Adjustments, An Empirical Review of Methods for Temporal Distribution and Interpolation in the National Accounts, U.S. International Trade in Goods and Services, December 2018. The U.S. goods trade deficit with China was $345.0 billion in 2019, a 17.6% decrease ($73.7 billion) from 2018. Exports increased $0.6 billion to $3.3 billion and imports increased $0.3 billion to $4.7 billion. Operation of the Trade Agreements Program . In 2018, the United States had a trade deficit of 621.04 billion. The agricultural trade surplus declined by $2.4 billion in 2018 (8.3 percent), as a consequence of trade restraints in … The average goods and services deficit increased $1.5 billion to $55.5 billion for the three months ending in December. Because these goods do not cross the U.S. customs frontier, their value is not recorded in the Census data. 10 The $346 billion deficit with China was created by $452 billion in imports. 2018 : U.S. trade in goods with India . A World Trade Organization panel said Tuesday that the United States violated its rules by imposing tariffs on China in 2018, drawing an angry response from the Trump administration.
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