The United States has had roughly
in net imports since 1985
$
From a trade standpoint, the U.S. moved from a formerly consistent producer and net-exporter of goods to a dependable net-importer of goods.
The charts below show that we import billions of dollars of products each month from our major global competitors, such as China, Germany, Japan, Taiwan, and South Korea, as well as from our regional competitors, Mexico and Canada. With China alone, the U.S. has net imports totaling roughly $7 trillion since 1985.
The U.S. continues to import many of its critical goods, including microchips, pharmaceuticals, and even tractors. This represents a shift in power where we’re strengthening competitors like China and enabling them to be technologically dominant.
The data in the charts that follow shows that the change from net-exporter of goods to net-importer sets us up for vulnerability as a nation on many levels.
Cumulative U.S. Goods Trade Balance: 1960 – June 2025 (Trillions of USD)
| Year | Cumulative Goods Trade Balance |
|---|---|
| 1960 | $0.01 |
| 1980 | -$0.09 |
| 2000 | -$3.18 |
| 2020 | -$17.26 |
| Jun 2025 | -$22.47 |
- Census Bureau
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U.S. Goods Trade Deficit for June 2025 (Billions of USD)
| Country | U.S. Goods Trade Deficit | Percentage of Goods Trade Deficit |
|---|---|---|
| Mexico | $16.8 | 19.6% |
| Vietnam | $16.5 | 19.3% |
| Taiwan | $12.6 | 14.7% |
| China | $9.5 | 11.1% |
| South Korea | $5.8 | 6.8% |
| Ireland | $5.3 | 6.2% |
| Japan | $5.2 | 6.0% |
| Germany | $3.8 | 4.4% |
| Italy | $1.9 | 2.2% |
| Canada | $1.3 | 1.5% |
- Source: Census Bureau
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Cumulative U.S. Goods Trade Balance by Country: 1985 – June 2025 (Trillions of USD)
| Country | Cumulative Goods Trade Balance |
|---|---|
| China (Mainland) | -$7.23 |
| Japan | -$2.60 |
| Mexico | -$2.01 |
| Germany | -$1.63 |
| Canada | -$1.35 |
| Ireland | -$0.94 |
| Vietnam | -$0.92 |
| Taiwan | -$0.76 |
| Italy | -$0.74 |
| South Korea | -$0.64 |
- Census Bureau
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Five Largest U.S. Trade Deficits by Product - 2024 (Billions of USD)
| Item | Deficit |
|---|---|
| Motor cars and other motor vehicles (HS8703) | -$162.04 |
| Automatic data processing machines (including chips) (HS8471) | -$121.01 |
| Telephone sets (HS8517) | -$104.36 |
| Medicaments (HS3004) | -$74.43 |
| Blood and blood components (HS3002) | -$62.96 |
- World Bank: Obtained using WITS
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Five Largest U.S. Trade Surpluses by Product - 2024 (Billions of USD)
| Item | Surplus |
|---|---|
| Petroleum oils & oils from bituminous minerals (HS2710) | $57.95 |
| Petroleum gases and other gaseous hydrocarbons (HS2711) | $52.78 |
| Soya beans, whether or not broken (HS1201) | $24.16 |
| Maize (corn) (HS1005) | $14.06 |
| Coal; briquettes, ovoids and similar solid fuels (HS2701) | $13.83 |
- World Bank: Obtained using WITS
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Largest U.S. Trade Deficits with China by Product (2024)
| Product | Deficit (Billions of USD) |
|---|---|
| Telphone sets / telephones | -$52 |
| Automatic data processing machines (including chips) | -$37 |
| Electronic Accumulators | -$18 |
| Toys, Tricycles & Scooters | -$14 |
| Parts & Accessories for Motor Vehicles | -$9 |
- Source: World Bank via WITS
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Largest U.S. Trade Surpluses with China by Product (2024)
| Product | Surplus (Billions of USD) |
|---|---|
| Soybeans | $13 |
| Petroleum Gases | $6 |
| Electronic Integrated Circuits; Parts Thereof | $6 |
| Machines and Apparatus Used to Make Semiconductors | $3 |
| Copper Waste & Scrap | $3 |
- Source: World Bank via WITS
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Largest Global Importers of Tractors in 2024 (Millions of USD)
| Nation | Imports |
|---|---|
| United States | $15,668.65 |
| Canada | $5,307.96 |
| Germany | $3,460.44 |
| United Kingdom | $2,789.44 |
| Poland | $2,422.57 |
- Source: World Bank via WITS
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U.S. Exports of Semiconductors, Computer Chips, and Parts Thereof (Millions of USD)
| Year | China, Mainland | U.S. |
|---|---|---|
| 1990 | $128 | $11,401 |
| 2000 | $4,490 | $45,198 |
| 2010 | $62,416 | $31,619 |
| 2020 | $153,789 | $27,577 |
| 2024 | $209,216 | $30,199 |
- Source: World Bank via WITS
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U.S. Pharmaceutical and Medicinal Imports by Weight in 2024 (Kilograms)
| Country | Total Import Weight | % of All Pharma Imports to the U.S. |
|---|---|---|
| India | 136,619,029 | 17% |
| China | 111,295,368 | 13% |
Additionally, 90+% of all Antibiotics in the USA come from China, which poses a significant risk to our national security (NY Times, 2020).
In case of war, the U.S. would not be able to survive without access to these critical goods.
- Source: World Bank via WITS
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