Learning Team C was instructed to discover and research the five largest trading partners for the United States, along with the five countries in which the United States has the largest trading deficit with. The team used the assigned website to determine which policies could be implemented to reduce those deficits. Additionally, www.census.gov was used to research the five countries in which the U.S. has the largest trade surplus with. Learning Team C will define conditionality, discuss the IMF, and research the five countries which have received IMF financing over the past five years. Finally, the team will explain and discuss the mission creep.
What are the 5 largest trading partners for the United States?The majority of United States merchandise trade is conducted in relatively few countries. Although the U. S. trades with nearly 200 countries worldwide, in 2001, over three-quarters of the value of U.S. merchandise trade was with only 15 countries.
Of these countries, just five: Canada, Mexico, Japan, China, and Germany accounted for over half of the value of U.S. international trade in goods. Nearly one-third of U.S. merchandise trade was with Canada and Mexico, the U.S.-North American Free Trade Agreement (NAFTA) partners. Canada, the top U.S. trading partner for decades, remained the leading country by accounting for over one-fifth of U.S. merchandise trade in 2001. The modes of transportation used in moving freight to and from the United States are influenced by the high concentration of trade within North America and the geographic spread of the remaining trading partners internationally. The proximity of Canada and Mexico to the United States allows surface modes to be the primary modes of transportation for NAFTA trade. For all the other U.S. trading partners, maritime vessels and air transportation are, by necessity, the modes used.
U.S. trade relationships have...