The HTSA provides the applicable tariff rates and statistical categories for all merchandise imported into the United States. Exports of goods on a Census basis decreased $3.7 billion. Exports decreased $9.6 billion to $120.3 billion and imports increased $34.0 billion to $539.5 billion. 2018 International Trade Webinars Archive. The deficit with China increased $3.2 billion to $38.7 billion in December.  U.S. exports of soybeans (HTS 1201.90.0095) led the decrease in exports of oilseeds to China.  USITC DataWeb/USDOC, digest AG032 (accessed March 15, 2019). The decline in US exports took place even before trade war rhetoric between the United States and China began to heat up. Products Upcoming Outreach Activities. - Includes charges for the use of proprietary rights, such as patents, trademarks, and copyrights, and charges for licenses to use, reproduce, distribute, and sell or purchase intellectual property. South Korea Deficits were recorded, in billions of dollars, with China ($419.2), European Union ($169.3), Mexico ($81.5), Germany ($68.3), Japan ($67.6), Ireland ($46.8), Italy ($31.6), Malaysia ($26.5), India ($21.3), OPEC ($21.2), Canada ($19.8), Thailand ($19.3), Switzerland ($18.9), South Korea ($17.9), France ($16.2), Taiwan ($15.5), Russia ($14.1), Indonesia ($12.6), and Saudi Arabia ($10.5). The deficit with India decreased $0.4 billion to $1.4 billion in December. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, MARCH 6, 2019, U.S. Census Bureau, Economic Indicators Division, International Trade, U.S. Census Bureau, Public Information Office, 4600 Silver Hill Road • Suitland, MD 20746, www.census.gov/foreign-trade/Press-Release/current_press_release/index.html, www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services, U.S. Trade in Goods and Services, 1992-present, U.S. Trade in Goods and Services by Selected Countries and Areas, 1999-present, Seasonal Adjustment by Selected Countries and Areas, Frequently Asked Questions, U.S. The real goods deficit increased $10.0 billion to $91.6 billion in December. Commodity and country details and statistics for goods trade on a balance of payments (BOP) basis and for services trade are released several days later in the FT-900. U.S. Trade by Industry Sector and Selected Trading Partners Issued on: December 11, 2020. The growth in exports of medicinal chemicals ($3.9 billion, 7.1 percent) was mostly due to increases in exports to European countries, particularly Italy, Germany, the Netherlands, Belgium, and the United Kingdom. Deductions for equipment repairs (parts and labor), developed motion picture film, military grant-aid, and, for periods prior to 2010, goods identified in the Census data as exports under the Foreign Military Sales (FMS) program. African Development Bank experts warn that the trade tensions could cause a 2.5 percent reduction in GDP New: US trade deficit grew $69 billion in 2018, hitting a 10-year high. Exports of services decreased less than $0.1 billion to $69.5 billion in December. Operation of the Trade Agreements Program . Goods trade in the Advance Economic Indicators Report. Financial services increased $4.6 billion. Ambassador Robert E. Lighthizer Announces USTR Annual Awards During Virtual Event. Business travel also includes expenditures by border, seasonal, and other short-term workers in their economy of employment. ), The overall increase in the value of U.S. imports of merchandise was somewhat offset by decreases in imports of telecommunications equipment, which fell $4.1 billion (3.6 percent) in 2018 (table US.2), especially with respect to three Asian trading partners—Malaysia, Taiwan, and Thailand—as well as from Mexico. Table reflects only those months for which there was trade. Details may not equal totals due to rounding. Net balance of payments adjustments increased $0.6 billion. Annual revisions: Each June, historical data are revised to incorporate newly available and revised source data, changes in definitions and classifications, and changes in estimation methods. USITC offices assist in investigating imports claimed to injure a domestic industry, in investigating violations of U.S. intellectual property rights, and in providing independent analysis and information on tariffs, trade and competitiveness. For imports from Canada and Mexico, this should be the cost of the goods at the U.S. border. Sept. 24, 2018. China–US Trade Disputes in 2018: An Overview. Imports of services were revised up less than $0.1 billion. 1337). The statistics provide detail on U.S. trade in services by type and by country and area and detail on services supplied through affiliates by industry and by country and area. Although all sectors experienced growth in the value of their exports, some product groups within the sectors experienced a decline, lessening the overall sectoral gains. Travel (for all purposes including education) increased $10.1 billion. Canada Annual revisions: Each June, not seasonally adjusted goods data are revised to redistribute monthly data that arrived too late for inclusion in the month of transaction. https://www.usitc.gov/research_and_analysis/trade_shifts_2014/trade_metrics.htm. The 2018 figures show surpluses, in billions of dollars, with South and Central America ($41.5), Hong Kong ($31.1), Netherlands ($24.8), Australia ($15.2), and Belgium ($14.2). About 500 of some 22,000 Schedule B and Harmonized Tariff Schedule classification codes used in reporting U.S. merchandise trade are identified as "advanced technology" codes, and they meet the following criteria: The aggregation of the goods results in a measure of advanced technology trade that appears in exhibits 16 and 16a. (°) Statistical significance is not applicable or not measurable. In 2016, the goods and services trade between the two countries totaled $627.8 billion. These services include those normally provided by banks and other financial institutions. The Census data only include imports of goods by U.S. military agencies that enter the U.S. customs territory. Minerals and Metals Real Goods in 2012 Dollars – Census Basis (exhibit 11). In 2018, the United States was the largest partner for EU exports of goods (21 % of total extra-EU exports) and second largest for EU imports of goods (14 % of total extra-EU imports), after China (20 %). The bi-partisan USITC Commission is comprised of six Commissioners who are nominated by the President and confirmed by the U.S. Senate. For November, revised export carry-over was $0.2 billion (0.1 percent) and revised import carry-over was $0.1 billion (less than 0.1 percent). These revisions are reflected in totals, end-use, commodity, and country summary data. This site includes planned staged tariff reductions (where applicable) and 3-year (plus year-to-date) import data. As regulations regarding cross-border trade continue to increase, international shippers need to mitigate their risks Feng Lu. Other industrial machines increased $2.9 billion. The first two scenarios are based on announced tariff increases by the US and China, the third scenario includes imaginary additional tariff increases on automobile Ambassador to Egypt Jonathan R. Cohen noted, “These grant agreements total $1.4 million and underscore the mutual focus of Egypt and the United States on expanding the robust trade and investment relationship between our countries. Tariff Data for specific products, Tariff Programs, Agency Planning, Budget and Financial Reports, U.S. Trade by Industry Sector and Selected Trading Partners, Miscellaneous Tariff Bill (MTB) Information Page. For categories for which monthly data are not available, monthly statistics are derived from quarterly statistics through temporal distribution, or interpolation. Transport - Consists of transactions associated with moving people and freight from one location to another and includes related supporting and auxiliary services. Which 8-digit HTS subheadings are included in each? What are sectors? EU and US investments are the real driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic. Computer accessories increased $0.7 billion. The largest increase in value occurred in the chemicals and related products sector, which gained $43.1 billion (16.1 percent). Similarly, U.S. exports of transportation equipment—particularly aircraft, spacecraft, and related equipment ($8.4 billion, 6.5 percent)—went mostly to the United Kingdom, China, France, and Germany. The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. Imports of goods on a Census basis increased $5.2 billion. Data adjusted for seasonal variation on a real, or chained-dollar, basis (2012 reference year) are presented in exhibits 10 and 11. The US and China have been exchanging threats and imposing tariffs in a ‘trade war’ since early 2018. Covering more than 200 nations; over 400 airports, seaports and border crossings; and more than 900 export and 900 import commodities. Agricultural goods are defined by the U.S. Department of Agriculture (USDA); they consist of non-marine food products and other products of agriculture that have not passed through complex processes of manufacture. The Commission is a highly regarded forum for the adjudication of intellectual property and trade disputes. Current general fact-finding investigations being conducted by the Offices of Economics and of Industries. Because the data series for aircraft is highly variable, users studying data trends may wish to analyze trade in aircraft separately from other trade. An official website of the United States government. The United States International Trade Commission is an independent, nonpartisan, quasi-judicial federal agency that fulfills a range of trade-related mandates. Import duties, freight, insurance, and other charges incurred in bringing merchandise to the United States are excluded. This agreed consultation will help to inform our overall approach to our future trade relationship and trade negotiations with the US. Exports increased $13.6 billion to $163.8 billion and imports increased $6.3 billion to $122.3 billion. Contact Us. Transactions may be included in a subsequent month's statistics if received late.  (For more information about oilseeds exports to China, see the Agricultural Products and Special Topic chapters.). Insurance services - Includes the direct insurance services of providing life insurance and annuities, non-life (property and casualty) insurance, reinsurance, freight insurance, and auxiliary insurance services. The trade deficits for electronic products ($13.6 billion, 6.3 percent) and transportation equipment ($12.5 billion, 11.4 percent) increased by the second- and third-largest dollar amounts, respectively, from 2017 to 2018 (table US.1). The U.S. merchandise trade deficit with the rest of the world grew by $83.0 billion (10.4 percent) to $878.7 billion in 2018. Combining trade into approximately 140 export and 140 import end-use categories makes it possible to examine goods according to their principal uses (see exhibits 7 and 8).  USITC DataWeb/USDOC, digest EL002 (accessed March 15, 2019). Notice issued to the Federal Register as well as Commission public notices issued regarding investigations, solicitations for public comment, and questionnaires. For total exports and imports, data users should refer to the by-commodity and by-service type totals shown in the other exhibits. This amount of deficit growth surpassed the deficit increase of 2017, reached the highest absolute level of growth, and attained the highest yearly growth from 2014 to 2018 (table US.1). The release schedule for the "U.S. International Trade in Goods and Services" report for the remainder of 2019 has been revised to reflect delays related to the recent lapse in federal funding. Project Team The USITC (Office of Tariff Affairs and Trade Agreements) is responsible for publishing the Harmonized Tariff Schedule of the United States Annotated (HTSA). Gold imports, nonmonetary - This addition is made for gold sold by foreign official agencies to private purchasers out of stock held at the Federal Reserve Bank of New York. Financial services increased $0.1 billion. About Us WorldCity, Inc. generates more than 10 million datasets with the latest U.S. Census Bureau data. Other industrial machines increased $5.1 billion. Because only goods trade on a Census basis by principal end-use category is available in the Advance Report, BEA applies adjustments, such as BOP and coverage adjustments, to the Advance Report statistics to produce detailed estimates for incorporation into the advance GDP estimate. Cell phones and other household goods increased $0.6 billion. Imports from these three countries saw the largest increases during this period and accounted for about 42 percent of the total increase in the value of U.S. general imports. U.S. imports from China rose the most, gaining $34.0 billion (6.7 percent) in 2018 to reach $539 billion, the highest level in the last five years. Goods by Selected Countries and Areas – Census Basis (exhibits 14 and 14a). 1. United States International Trade Commission The Year in Trade 2018 . U.S. imports of footwear increased the least in both absolute and percentage terms, growing $927 million (3.6 percent) from 2017 to 2018. Includes publications regarding the following Tariff Act Sections 701,731; 201, 204, 412, 332 and 337 Opinions. ), Table US.2 All merchandise sectors: Leading changes in U.S. exports and imports, 2014–18, Aircraft, spacecraft, and related equipment (TE013), Aircraft engines and gas turbines (TE001), Computers, peripherals, and parts (EL017), The value of U.S. general imports increased for the 10 merchandise sectors included in the report, rising a combined $200.8 billion (8.6 percent) to $2.5 trillion from 2017 to 2018. U.S. merchandise trade and tariff data web interface, Retrieve U.S. merchandise trade data using the data request tool. The U.S. goods trade deficit with China was $345.0 billion in 2019, a 17.6% decrease ($73.7 billion) from 2018.  General imports increased at a higher rate, reaching their highest levels since 2014 (table US.1), while U.S. total exports rose by $117 billion (7.6 percent) to nearly $1.7 trillion from 2017 to 2018. S&P 500: +1.00%. (For more information, see the Agricultural Products, Electronic Products, Transportation Equipment, and Minerals and Metals chapters.). Trade in services 2016-2018, € billions Year EU imports EU exports Balance; 2016: 192.5: 160.0-32.4: 2017: 194.7: 172.8-21.8: 2018: 196.2: 179.4-16.8 Computer services consist of hardware- and software-related services and data processing services. Travel is a transactor-based component that covers a variety of goods and services, primarily lodging, meals, transportation in the country of travel, amusement, entertainment, and gifts. Gold exports, nonmonetary - This addition is made for gold that is purchased by foreign official agencies from private dealers in the United States and held at the Federal Reserve Bank of New York.