By: Moslem Ali
Cairo - Mubasher: The United States' total trade exchange with other world nations totals around $4.9 trillion per year.
The Trump administration has pulled out of the Trans-Pacific Partnership (TPP), and will very likely take the same action regarding the North American Free Trade Agreement (NAFTA), as it is leaning towards a more protective trade policy, as part of President Donald Trump’s “America First” Strategy.
China, Canada, and Mexico are the country’s largest trading partners, accounting for nearly 39% or $1.9 trillion worth of imports and exports, according to a recent report by CNN Money.
We take a look as the biggest trade partners for the United States in the Middle East and North Africa Region (MEN), and around the Globe, as shown by the data of 2016.
Canada is the biggest buyer of American exports, dominating 14.6% of the total exports, which is worth $320.8 billion, followed by Mexico with 11.9%, China 7.7%, UK 5.5%, Japan 4.9%, Germany 3.7%, and South Korea with 2.9%.
Meanwhile, Saudi Arabia is the biggest importer of American goods and services in the region, accounting for 1.3% of total American exports with a total value of $27.7 billion, followed by the UAE with 1% ($22.4 billion), Israel with 0.8% ($18.3 billion), and Turkey with 0.6% ($12.5 billion).
China dominates 17.8% of total American imports, a stake worth $478.8 billion, followed by Mexico with 11.8%, Canada 11.4%, Japan 6.1%, Germany 5.5%, UK 3.9%, South Korea 3%, India 2.7%, and France with 2.3%.
As for the MENA region, Israel dominates 1.1% of the total, followed by Saudi Arabia with 0.7% ($18.1 billion), and Turkey with 0.4% ($11.7 billion).