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USA SPECIAL - International Trade
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THE BREXIT FACTS4EU.ORG
USA SPECIAL !
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All you ever wanted to know about Brexit, UK, & EU - in relation to the USA
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UK IS USA'S TOP CUSTOMER IN THE EU
Latest official US data shows why President Trump
is keen to do trade deal with UK
Exclusive Facts4EU.Org Research Report on US Trade - Part 1
The UK is the top customer for American products, according to official data from the US Census Bureau.
BREXIT FACTS4EU.ORG SUMMARY - 2016 FIGURES
- 20.5% of all US goods exported to the EU were bought by the UK
- UK customers bought 12% more than the Germans
- 79% more than the French
- Over 3 times more than the Italians
Chart © Facts4EU.Org 2018
The UK bought $55.4 billion of American goods – more than any other EU country.
Chart © Facts4EU.Org 2018
OBSERVATIONS
The EU remains keen to do a trade deal with the US, after the spectacular implosion of the much-vaunted and long-awaited ‘TTIP’ deal in 2016, which President Obama had been anxious to complete before leaving office.
No doubt President Trump will be looking at how the EU market for American products will be only 79.5% of its current size, once the UK exits the EU in 2019.
No other EU country is as important to exporters of American products as the UK. Naturally the EU27 remains a very important market for the US, but given the complexities of trying to negotiate with the EU it’s not surprising that the US Trade Dept is keen to agree a deal with the UK as soon as possible.
Next article: Why President Trump told the EU on Thursday that Germany is "very bad"
[ Sources: US Census Bureau ] Journalists and politicians can contact us for the full list of links, as usual.
05.50am, 18 Jan 2018
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US TRADE: POSITIVE WITH UK & NEGATIVE WITH THE EU27
Exclusive Brexit Facts4EU.Org Research Report on US Trade - Part 2
Latest figures show the US and the UK do well,
trading with each other
Unfortunately it's a different story for the US when it comes to trading with the EU27.
Latest figures from the US Census Bureau for the trade in goods between the US and the EU show why President Trump singled out Germany when he met with two of the EU's five Presidents at their HQ in Brussels, Belgium last year. A row broke out following the meeting, after the US President described Germany as ‘very bad’ during the short talks which took place.
Chart © Facts4EU.Org 2018
We researched the EU’s trade with the US and compiled the information relating to each of the 28 member states. The news is good for the relationship between the US and the UK, but not so encouraging for the rest of the EU, and it explains President Trump’s remarks during his whistle-stop visit to the EU’s Brussels HQ.
- The US had a trade deficit in goods of $146 billion with the EU last year
- Germany was responsible for a staggering 44.3% of this
- Germany sold the US $114 billion in goods, but only bought $49 billion in return
Germany was responsible for 27.4% of all goods which the US imported from the EU in 2016, the latest year for which full information is available. In overall terms Germany is therefore doing very well out of the EU’s relationship with the US, and it’s hardly surprising that President Trump focused on Germany when talking to Presidents Juncker and Tusk about the EU’s massive imbalance of trade with the US.
USA HAS SMALL TRADE SURPLUS WITH THE UK
In contrast with the EU27 as a whole, the US had a small trade surplus with the UK last year. The US sold the UK $55 billion in goods, and bought $54 billion of goods in return.
OBSERVATIONS
Trade balances vary over time. However in the case of the USA buying and selling goods with the EU, it has become something of a one-way street.
The USA's trade imbalance with the EU is fairly significant - coming in at negative $146 billion in 2016. No wonder the EU wouldn't compromise during its negotiations with President Obama in the TTIP trade talks. The EU27 are doing well out of the relationship, so why change anything?
What is all the more noticeable, however, is that the US has no such imbalance with the UK. The US sold the UK $55.4bn of goods, versus the UK selling the USA $54.3bn.
[ Sources: US Census Bureau ] Journalists and politicians can contact us for the full list of links, as usual.
05.50am, 18 Jan 2018
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THE BREXIT FACTS4EU.ORG
USA SPECIAL !
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|
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All you ever wanted to know about Brexit, UK, & EU - in relation to the USA
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EACH WEEK MORE OF THE BUTTONS WILL TURN BLUE AND BE CLICKABLE
If you can support us with a donation of even just a couple of pounds or dollars, we would really appreciate it. We receive no state funds, nor donations from corporates or institutes, so we really need the help of people like you!
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Best regards, the Facts4EU.Org Team
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