The February figures released by US Census shows surpluses, with South and Central America ($4.8B), Netherlands ($4.1B), and UK ($3.4B).
Deficits were recorded with the European Union ($30.9B), China ($26.6B), Switzerland ($18.8B), Mexico ($16.8B), Ireland ($14B), Vietnam ($12.4B), Taiwan ($8.7B), Germany ($8.1B), Canada ($7.3B), India ($5.6B), Japan ($5.2B), Italy ($5.1B), South Korea ($4.5B), Malaysia ($3.1B), Australia ($2.1B), France ($1.5B), and Singapore ($1.1B).
Here’s an updated version of an earlier version of this chart
On Wednesday, April 2—dubbed ‘Liberation Day’ by President Trump—the U.S. imposed new ‘reciprocal’ tariffs, raising duties to match the tax rates other countries charge on American imports.
import duties come on top of the series of other tariffs Trump has already announced-most of which are on America’s largest trading partners with huge trade deficits-namely China, Canada and Mexico. Census data shows that nearly 100 countries have a trade deficit with the U.S. The data covers a little over 250 countries which also include trade with free trade unions.
The new tariff rollout includes tariffs on some of leading Asian economies like China, India, South Korea and Japan. Vietnam and Cambodia, have also been hit hard by Trump’s tariffs, complicating trade relations.
Most companies facing a high rate of reciprocal tariffs also have large trade imbalances like the European Union and China but leading trade partners, Canada and Mexico are missing from the list.
According to the White House the existing fentanyl/migration International Emergency Economic Powers Act (IEEPA) orders remain in effect for Canada and Mexico, and are unaffected by this order. This means goods compliant under the United States-Mexico-Canada Agreement (USMCA) will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff.
The list also includes countries with which U.S. has a trade surplus such as the UK, Saudi Arabia, UAE and Australia. Such countries face the 10% baseline tariff – in retaliation to the 10% they charge to the U.S.
Here is a look at some of the countries slapped with ‘reciprocal’ tariffs and here’s the full list