USA - AC Flashcards
1
Q
What are the Imports in the USA?
A
$3.2 Trillion in 2022
Major imports: Machinery, Cars, fuel, oil + Meds
Top supplier: China, Mexico, China, Japan
2
Q
What are the exports in the USA?
A
2nd largest imports in the world ($2.1 trillion)
Top countries: Canada, Mexico, China, Japan
3
Q
What trade bloc are the USA in?
A
NAFTA
4
Q
Changes in IN trade in USA?
A
Goods and service deficit decreased by 20% - $147B
Exports increased 1%
Imports decreased 4%
5
Q
Challenges of IN trade in the USA?
A
Port polluted - port is the largest source of pollution in the US
$300 B deficit to china - China is cheaper - can’t compete
6
Q
Opportunities of IN trade in the USA?
A
Jobs created - 9 million jobs dependent on US/Canada trade
Economic multiplier - Top 20 busiest ports - 10 mill units carried per year
