Explainer: Who Did America Trade With Most in 2024?

In 2024, the US trade landscape shifted significantly, with Mexico surpassing China as America’s top trading partner, followed closely by Canada and China. The U.S. recorded $839.9 billion in total trade with Mexico, and a massive $1.2 trillion goods trade deficit overall. While the U.S. enjoys surpluses with countries like the Netherlands and Hong Kong, it faces its largest deficits with China, Mexico, and Vietnam. These imbalances reflect ongoing tensions over tariffs.