Americas

USTR's Office of the Americas is responsible for developing, implementing and monitoring U.S. trade policy in the Americas.

It leads the negotiation and implementation of U.S. trade agreements in the Americas, and oversees the administration and operation of these agreements, including the North American Free Trade Agreement, the Central America-Dominican Republic Free Trade Agreement, and U.S. free trade agreements with Chile, Peru, Colombia, and Panama.

The Americas Office also manages U.S. trade relations with Mercosur, including bilateral trade councils with Argentina, Brazil, Uruguay and Paraguay. In addition, it oversees U.S. trade preference programs in the region, including the Caribbean Basin Initiative and the Andean Trade Preference Act.

U.S.-Western Hemispheres Trade Facts

U.S. goods and services trade with the Western Hemisphere totaled $1.4 trillion in 2007 (latest data available). Exports totaled $618 billion; Imports totaled $749 billion. The U.S. goods and services trade deficit with the Western Hemisphere was $130 billion in 2007.

The United States has $1.3 trillion in total (two ways) goods trade with Western Hemisphere countries during 2008. Goods exports totaled $547 billion; Goods imports totaled $711 billion. The U.S. goods trade deficit with the Western Hemisphere was $163 billion in 2008.

Trade in services with the Western Hemisphere (exports and imports) totaled $215 billion in 2007. Services exports were $128 billion; Services imports were $87 billion. The U.S. services trade surplus with the Western Hemisphere was $41 billion in 2007 (latest data available).

Exports

U.S. goods exports to the Western Hemisphere in 2008 were $547.4 billion, up 11.6 percent ($57.0 billion) from 2007. U.S. exports to the Western Hemisphere accounted for 42.1 percent of overall U.S. exports in 2008.

The largest export markets are: Canada (260.9 billion), Mexico ($151.5 billion), Brazil ($32.9 billion), Venezuela ($12.6 billion), Chile ($12.1 billion).

The top export categories (2-digit HS) in 2008 were: Machinery ($92.6 billion), Vehicles ($64.9 billion), Electrical Machinery ($63.3 billion). Mineral Fuel and Oil ($46.1 billion), and Plastic ($28.6 billion).

U.S. exports of agricultural products to the Western Hemisphere countries totaled $44.3 billion in 2008. Leading categories include: coarse grains ($5.4 billion), wheat ($3.4 billion), red meats, fresh/chilled/frozen ($3.3 billion), soybeans ($2.3 billion), fresh fruit ($2.0 billion), snack foods (excluding nuts) ($2.0 billion), and soybean meal ($2.0 billion).

U.S. exports of private commercial services* (i.e., excluding military and government) to the Western Hemisphere were $128.1 billion in 2008, up 17.4 percent ($19.0 billion) from 2007.

Imports

U.S. goods imports from the Western Hemisphere totaled $710.6 billion in 2008, up 7.4 percent ($48.8 billion), from 2007. U.S. imports from the Western Hemisphere accounted for 33.8 percent of overall U.S. imports in 2008.

The largest country supplier of imports are: Canada ($335.6 billion), Mexico ($215.9 billion), Venezuela ($51.4 billion), Brazil ($30.5 billion), and Colombia ($13.1 billion).

The five largest categories in 2008 were: Mineral Fuel and Oil (crude oil) ($239.3 billion), Vehicles ($80.6 billion), Electrical Machinery ($66.1 billion), Machinery ($50.0 billion), and Special Other (returns) ($16.3 billion).

U.S. imports of agricultural products from the Western Hemisphere countries totaled $42.5 billion in 2008. Leading categories include: fresh vegetables ($4.3 billion),other fresh fruit ($4.0 billion), snack foods, (including chocolate) ($3.6 billion), coffee (unroasted) ($2.9 billion), and processed fruit and vegetables ($2.8 billion).

U.S. imports of private commercial services* (i.e., excluding military and government) were $87.0 billion in 2007, up 4.7 percent ($3.9 billion) from 2007.

Trade Balances

The U.S. goods trade deficit with the Western Hemisphere was $163.3 billion in 2008, a 4.8 percent decrease ($8.2 billion) over 2007. The U.S. goods trade deficit with the Western Hemisphere accounted for 20.4 percent of the overall U.S. goods trade deficit in 2008.

The United States has a services trade surplus of $41.1 billion with the Western Hemisphere countries in 2007.

Investment

U.S. foreign direct investment (FDI) in the Western Hemisphere Countries (stock) was $729.0 billion in 2007 (latest data available), up 10.9 percent from 2006.

The Western Hemisphere Countries FDI in the United States (stock) was $276.2 billion in 2007, up 16.1 percent from 2006.

Further Information

Click here for further information about Western Hemisphere Initiatives.

Click on a side tab for information on trade with countries of the Americas.

Other Americas information can be found under Trade Agreements and under Trade Topics/Preference Programs.

 

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NOTE: Refers to private services trade not including military sales, direct defense expenditures, and other miscellaneous U.S. government services.