PARIS: The countries that run the biggest trade surpluses with the United States may be the prime targets of President Donald Trump’s incoming onslaught of “reciprocal” tariffs.
Trump is set to unleash tariffs on Wednesday (Apr 2) – what he has dubbed “Liberation Day” – that will vary from country to country depending on the duties they impose on US goods and other factors such as value-added taxes.
Here is a look at the countries that export much more to the US than they import:
PERENNIAL CHAMPION CHINA
China, the world’s second biggest economy, is the country with the highest trade surplus with the US, shipping everything from electronics to toys and clothing.
The US-China trade gap reached US$295.4 billion last year, according to the US Commerce Department’s Bureau of Economic Analysis (BEA).
Known as the world’s factory, China produces goods for Chinese and foreign companies, including US firms, that are then exported across the globe.
Trump also accuses Beijing of manipulating the yuan to make Chinese-made products more competitive abroad.
The US leader, who had launched a trade war with Beijing during his first term, has already imposed additional 20-per cent tariffs on Chinese goods this year, triggering retaliatory duties from Beijing.
“BRUTAL” EU
The US had a trade deficit of US$235.6 billion with the 27-nation European Union last year.
Trump has slammed the EU as “absolutely brutal” in its commercial relations with Washington.
Ireland had the biggest trade surplus at US$86.7 billion, partly due to the presence of US companies that have taken advantage of the country’s low corporate tax.
Germany, Europe’s top economy and major car exporter, came in second at US$84.8 billion, followed by Italy at US$44 billion.
While US official figures show France has a surplus of US$16.4 billion with the US, French customs data report a deficit of several billion dollars for the European country, since they do not take the same numbers into account.
