Using the latest data on international trade from the U.S. Census Bureau, we’ve visualized the flow of America’s annual imports and exports for selected countries. The difference between the two measures is the country’s trade deficit for goods.
In 2021, U.S trade of goods amounted to nearly $4.6 trillion and Canada, Mexico, and China were America’s largest trading partners. Those three countries alone combined for a total trade of $1.9 trillion, equal to about 41% of all trade of goods.
Let’s take a look at the 10 countries that trade the most with the United States:
| Rank | U.S. Trade Partners | Goods Imports (in billion U.S. dollars) | Goods Exports (in billion U.S. dollars) | Total Trade (in billion U.S. dollars) |
|---|---|---|---|---|
| #1 |  Canada | $357.2 | $307.6 | $664.8 |
| #2 |  Mexico | $384.7 | $276.5 | $661.2 |
| #3 |  China | $506.4 | $151.1 | $657.5 |
| #4 |  Japan | $135.1 | $75.0 | $210.1 |
| #5 |  Germany | $135.2 | $65.2 | $200.4 |
| #6 |  South Korea | $95 | $65.8 | $160.8 |
| #7 |  United Kingdom | $56.4 | $61.5 | $117.9 |
| #8 |  Taiwan | $77.1 | $36.9 | $114 |
| #9 |  India | $73.3 | $40.1 | $113.4 |
| #10 |  Vietnam | $101.9 | $10.9 | $112.8 |
| Total | $2.85 Trillion | $1.76 Trillion | $4.61 Trillion |
From a geographic perspective, the two largest trading partners are based in North America (Canada and Mexico). Meanwhile, six of the top 10 are based in Asia.
Which Countries Does the U.S. Have the Largest Trade Deficit With?
The largest trade deficit is undoubtedly with China, which accounts for more than 32% of the U.S. trade deficit in goods.
The $355 billion deficit with China comes from importing $506 billion in goods such as machinery, furniture, and bedding. Interestingly, many of those imports are made by American companies who outsource their production to China. These outsourcing activities are counted as imports even though they create profit for these U.S. companies.
Below we order U.S. trade partners by trade deficit of goods:
| Rank | U.S. Trade Partners | Goods Trade Deficit (in billion U.S. dollars) |
|---|---|---|
| #1 | China | $355.3 |
| #2 | Mexico | $108.2 |
| #3 | Vietnam | $91.0 |
| #4 | Germany | $70.1 |
| #5 | Japan | $60.2 |
| #6 |  Ireland | $60.2 |
| #7 | Canada | $49.5 |
| #8 |  Malaysia | $41.0 |
| #9 | Taiwan | $40.2 |
| #10 |  Italy | $39.3 |
| Total Deficit | $1.09 Trillion |
The second largest U.S. trade deficit is with Mexico with $108 billion. The main imports from Mexico are cars, trucks, and auto parts. On the other side, the main exports are auto parts and petroleum products.
Source: www.visualcapitalist.com
