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If you were leading a country like Brazil and wanted to maintain a healthy economic trend in GDP growth, but a large trading partner like the U.S. put up a huge barrier to trade, wouldn't you be compelled to strengthen ties to other large trading partners like China? Are other countries thinking this way too? How is the the U.S. "winning" here?
the U.S. exported more goods to Brazil than it imported, resulting in a goods trade surplus of $7.4 billion. This marked a significant increase from the previous year. Key details of the U.S.-Brazil trade relationship include: * U.S. Exports to Brazil: Major exports from the U.S. to Brazil typically include industrial machinery, fossil fuels (like refined petroleum), aircraft and parts, and chemicals. * U.S. Imports from Brazil: The U.S. imports a variety of goods from Brazil, with key products being crude oil, iron and steel products, aircraft, coffee, and wood pulp.
That was a $7.4 billion trade surplus with Brazil in 2024. And an increase from 2023. Yet, here we are placing tariffs on Brazil. Even more reason for Brazil to strengthen ties with any partner that isn't engaging in unfair trade practices with them and trying to influence their justice system.
If I were leading a country that was being treated this way, I would slowly and carefully begin shifting trade to other nations. Canada is a similar situation, we have a trade surplus with them, when all commerce (goods and services) is taken into account, yet we alienate them with punitive measures. In essence, we are taking advantage of a neighbor and ally.
USA has trade deficit with Canada on goods (oil, cars) of $63B, but services surplus of $32B. (Tourism, software, IP). Tourism from Canada is going down, but much less than 50% plus expected, for now…
However, President Trump won’t allow other countries to tax USA services because he has all the cards, he is basically King of the World unless other countries get together and decide to do something.
I stand corrected, apparently we have a $31 billion deficit on approximately $765 billion in total trade. Not surprising, as we import 4 million barrels of oil a day from Canada.
I might add that I do not personally consider a trade deficit to be a bad thing, necessarily. Or believe that there could be zero trade deficits across all nations.
Comments
Key details of the U.S.-Brazil trade relationship include:
* U.S. Exports to Brazil: Major exports from the U.S. to Brazil typically include industrial machinery, fossil fuels (like refined petroleum), aircraft and parts, and chemicals.
* U.S. Imports from Brazil: The U.S. imports a variety of goods from Brazil, with key products being crude oil, iron and steel products, aircraft, coffee, and wood pulp.
If I were leading a country that was being treated this way, I would slowly and carefully begin shifting trade to other nations. Canada is a similar situation, we have a trade surplus with them, when all commerce (goods and services) is taken into account, yet we alienate them with punitive measures. In essence, we are taking advantage of a neighbor and ally.
However, President Trump won’t allow other countries to tax USA services because he has all the cards, he is basically King of the World unless other countries get together and decide to do something.
I might add that I do not personally consider a trade deficit to be a bad thing, necessarily. Or believe that there could be zero trade deficits across all nations.