Bloomberg News represents our trade deficits with various nations with circles. The bigger the circle, the bigger the trade imbalance in percentage terms. You may be surprised at which nations make the biggest circles.
In relative terms, for example, Mexico is no big deal. That's partly because Mexican auto assembly lines use a lot of American parts. China gets a big circle, sure. But look at Italy, the Netherlands and Germany. And Ireland! What's with that? A lot of former U.S. companies are now based in Ireland to evade U.S. taxes. But again, these circles show percentages, not raw dollars.
In raw dollars, only three countries buy and sell more than $500 billion a year: China, Canada and Mexico. Four countries are below $100 billion: Japan, Germany, South Korea and Britain. No one else comes close.
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