WASHINGTON: During his election campaign in 2016, U.S. President Donald Trump promised to shake up global trade and bring down America's growing trade deficits.
U.S.-China bilateral trade accounted for 15.7per cent of U.S. trade in goods during 2018, when it was the largest U.S. trading partner. U.S.-China trade has since shrunk to third place behind that with Mexico and Canada, making up 13.5 percent of total trade in 2019 through September.The Trump administration renegotiated the North American Free Trade Agreement with its neighbors in 2018 https://www.reuters.
Separately, the USTR said Monday it would review raising tariffs on more EU products, without specifics, after the World Trade Organization affirmed that aid to planemaker Airbus continues to harm the U.S. aerospace industry. And The U.S. Trade Representative's office unveiled a US$2.4 billion tariff list of imports from France, including cheese, handbags and Champagne, as punishment for France's new digital services tax.
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