U.S. President-elect Donald Trump, after his inauguration on Monday, is expected to swiftly usher in a wide range of tariffs, which could dramatically upend the movement of goods and services in coming years.
Trump has made tariffs, which were key to American tax revenue collection in the 19th century, a primary plank of his incoming economic policies, despite criticism of their effectiveness. He has floated the idea of large levees on Mexico and Canada – the country’s top two import partners – along with China, the world’s largest exporter.
Chinese trade officials said December exports surged to record levels, citing concerns about escalating trade protectionism in the U.S. Tariffs are paid by importing companies, not by exporters as Trump frequently claims.
The United States is a large importer in numerous industries, particularly cars, pharmaceuticals, consumer goods and energy products.
The lists below show the nation’s biggest trading partners, the categories of imported goods, and the states that import the most:
Top 10 Countries the United States Imports From (Jan-Nov 2024)
| Rank | Country | Amount (blns $) |
|---|---|---|
| 1 | Mexico | 466.6 |
| 2 | China | 401.4 |
| 3 | Canada | 377.2 |
| 4 | Germany | 146.7 |
| 5 | Japan | 135.8 |
| 6 | Vietnam | 124.8 |
| 7 | South Korea | 120.5 |
| 8 | Taiwan | 106.2 |
| 9 | Ireland | 95.8 |
| 10 | India | 80.1 |
Top 10 U.S. Imports by End-Use Category (Jan-Nov 2024)
| Rank | End-Use Category and Commodity | Amount (blns $) |
|---|---|---|
| 1 | Pharmaceutical preparations | 222.61 |
| 2 | Passenger cars | 197.59 |
| 3 | Crude oil | 152.50 |
| 4 | Automotive parts and accessories | 133.73 |
| 5 | Computers | 106.27 |
| 6 | Cell phones and household goods | 101.71 |
| 7 | Electric apparatus | 92.81 |
| 8 | Computer accessories | 89.83 |
| 9 | Industrial machinery | 77.55 |
| 10 | Telecommunications equipment | 77.12 |
Top 10 U.S. Importing States (Jan-Nov 2024)
| Rank | State | Amount (blns $) |
|---|---|---|
| 1 | California | 449.3 |
| 2 | Texas | 365.4 |
| 3 | Illinois | 199.4 |
| 4 | Michigan | 159.8 |
| 5 | New Jersey | 139.8 |
| 6 | New York | 137.1 |
| 7 | Georgia | 133.3 |
| 8 | Pennsylvania | 115.3 |
| 9 | Tennessee | 109.5 |
| 10 | Florida | 107.5 |
SOURCE – U.S. Census Bureau
(Reporting by Seher Dareen and Abhinav Parmar in Bengaluru; Editing by Anil D’Silva)