The USITC (Office of Tariff Affairs and Trade Agreements) is responsible for publishing the Harmonized Tariff Schedule of the United States Annotated (HTSA). Goods on a Census basis are adjusted by BEA to a BOP basis to align the data with the concepts and definitions used to prepare the international and national economic accounts. For imports, the value reported is the CBP-appraised value of merchandise—generally, the price paid for merchandise for export to the United States. For more information on trade terminology, please refer to USITC, “Special Topic: Trade Metrics,” Shifts in U.S. EU investment in the US is around eight times the amount of EU investment in India and China together. The Largest U.S. Deficit Is With China. Insurance services - Includes the direct insurance services of providing life insurance and annuities, non-life (property and casualty) insurance, reinsurance, freight insurance, and auxiliary insurance services. Annual revisions: Each June, not seasonally adjusted goods data are revised to redistribute monthly data that arrived too late for inclusion in the month of transaction. Industrial supplies and materials increased $74.2 billion. Net exports of goods under merchanting - This addition is made to include the net value of the purchase and subsequent resale of goods abroad without the goods entering the United States. The United States-Nepal Council on Trade and Investment, under the United States-Nepal Trade and Investment Framework Agreement (TIFA) View Full Release. [2] USITC DataWeb/USDOC, digest TE009 (accessed March 15, 2019). Table reflects only those months for which there was trade. USITC’s Strategic Plan, Budget, and Performance Reports, Information about the agency, the mission, & history, Administrative Law Judge (ALJ) biographies and photos, USITC’s Strategic Plan, Budget, and Annual Reports, USITC’s role and activities in conducting antidumping (AD), countervailing duty (CVD), and review (Five-year Sunset) and Global/Bilateral Safeguards investigations, A listing of Probable Effect Studies, Industry Assessments and Negotiation Background Information, Information about the USITC’s role and activities in conducting unfair import investigations under Section 337, Antidumping (AD), Countervailing Duty (CVD) and Safeguard Investigations. These adjustments, which are applied separately to exports and imports, are necessary to supplement coverage of the Census data, to eliminate duplication of transactions recorded elsewhere in the international accounts, and to value transactions at market prices. With the release of the "U.S. International Trade in Goods and Services, January 2019" report (FT-900), statistics for OPEC will exclude Qatar, which exited OPEC effective January 1, 2019. [18] These increases were partially offset by decreases in imports of telecommunications equipment;[19] semiconductors and integrated circuits;[20] blank and prerecorded media;[21] and aluminum mill products. Notice issued to the Federal Register as well as Commission public notices issued regarding investigations, solicitations for public comment, and questionnaires. Exports of services increased $30.4 billion to $828.1 billion in 2018. Goods carry-over in December was $0.2 billion (0.1 percent) for exports and $0.2 billion (0.1 percent) for imports. Sectors The Commission is a highly regarded forum for the adjudication of intellectual property and trade disputes. Tariff Data for specific products, Tariff Programs, Miscellaneous Tariff Bill Petition System (MTBPS), Harmonized Tariff Schedule (HTS), HTS Search, Modifications, E-Learning Module & Help, Future Tariff Rates, Quick lookup of U.S. Civilian aircraft engines increased $7.9 billion.   Mexico Also, the seasonally adjusted goods data were revised for January through November so that the totals of the seasonally adjusted months equal the annual totals. Transport covers all modes of transportation, including air, sea, rail, road, space, and pipeline. The real goods deficit increased $10.0 billion to $91.6 billion in December. 1337). Low-valued transactions: The total values of transactions valued as much as or below $2,500 for exports and $2,000 ($250 for certain quota items) for imports are estimated for each country, using factors based on the ratios of low-valued shipments to individual country totals for past periods. Imports by U.S. military agencies - This addition is made for purchases of goods abroad by U.S. military agencies, which are reported to BEA by the Department of Defense.   Chemicals and Related These services do not include the value of the information transmitted. Electric apparatus increased $5.4 billion. These data have been superseded. Such products constitute a significant part of all items covered in the selected classification code. Data users should use caution drawing comparisons between the two sets of seasonally adjusted series. The next largest suppliers of merchandise to the United States were Mexico and Canada, accounting for 26 percent of the total imports in 2018. Imports of goods increased $202.2 billion to $2,563.1 billion in 2018. Pacific Rim: Australia, Brunei, China, Hong Kong, Indonesia, Japan, Korea (South), Macau, Malaysia, New Zealand, Papua New Guinea, Philippines, Singapore, Taiwan. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. US-China trade war: 'We're all paying for this' Negotiations are ongoing but have proven difficult. EU and US investments are the real driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. Project Team For categories for which monthly data are not available, monthly statistics are derived from quarterly statistics through temporal distribution, or interpolation. Strategic Plan. Exports decreased $9.6 billion to $120.3 billion and imports increased $34.0 billion to $539.5 billion. Details may not equal totals due to rounding. Similarly, the United States’ imports of transportation equipment came mostly from major trading partners that are also large exporters of transportation equipment—Mexico, Japan, Canada, Germany, South Korea, and China. The deficit increased from $62.1 billion in September (revised) to $63.1 billion in October, as imports increased more than exports. In particular, it grew by $27.2 billion (66.9 percent) for chemicals and related products––the largest increase in 2018. The largest increase in value occurred in the chemicals and related products sector, which gained $43.1 billion (16.1 percent). Services are seasonally adjusted when statistically significant seasonal patterns are present. Insurance is measured as gross premiums earned plus premium supplements less claims payable, with an adjustment for claims volatility. The 2018 figures show surpluses, in billions of dollars, with South and Central America ($41.5), Hong Kong ($31.1), Netherlands ($24.8), Australia ($15.2), and Belgium ($14.2).   China In addition, U.S. imports of coffee and tea decreased $596 million (8.3 percent), driven by lower imports of these products from Canada, Vietnam, Colombia, and Brazil. Looking at the period 2008 to 2018, the EU had a trade in goods surplus (meaning larger exports than imports) with the United States. U.S. Seasonally adjusted data are also revised to reflect recalculated seasonal and trading-day adjustments. Exports of services were revised down less than $0.1 billion. (free alongside ship) value of merchandise at the U.S. port of export, based on the transaction price including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier at the U.S. port of exportation. [30] USITC DataWeb/USDOC, digest TE009 (accessed March 15, 2019). The seasonally adjusted country and world area data will not sum to the seasonally adjusted by-commodity and by-service type totals because the two sets of statistics are derived from different aggregations of the export and import data and from different seasonal adjustment models. Organization of Petroleum Exporting Countries (OPEC): Algeria, Angola, Congo (Brazzaville), Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Trump orders “Section 301” probe into alleged Chinese intellectual property theft, described as his first direct trade measure against Beijing. In addition, revisions are made to reflect corrections received subsequent to the monthly revisions. Tariffs threaten nearly 7 percent of China-US container trade 05 Apr 2018 S&P 500: +1.00%. Information services include news agency services, database services, and web search portals. Financial services increased $4.6 billion. Goods (BOP basis) and services by country and area. 2016 Trade Webinars Archive. (°) Statistical significance is not applicable or not measurable. The repairs may be performed at the site of the repair facility or elsewhere. Trade (% of GDP) from The World Bank: Data. Details may not equal totals due to rounding. Exports increased $148.9 billion or 6.3 percent. Exports of goods increased $118.5 billion to $1,671.8 billion in 2018. Administrative Law Judges biographies and photos. The next release of the ITAs is scheduled for March 27, 2019. They include both additions to and deductions from goods on a Census basis and are presented in this release as net adjustments. The FT-900 is the primary source for the goods trade data used in BEA's quarterly gross domestic product (GDP) statistics. Energy-related products showed the largest increase in U.S. total exports in terms of value, mostly due to an increase in export prices, while export volumes experienced a relatively small increase; specifically, the value of U.S. exports of energy-related products rose $51.6 billion (35.7 percent) in 2018. Quarterly and annual statistics for goods on a BOP basis and for services are included in the U.S. international transactions accounts (ITAs), which are published by BEA in news releases in March, June, September, and December and in the Survey of Current Business in the January, April, July, and October issues. The deflators are primarily based on the monthly price indexes published by the BLS using techniques developed for the NIPAs by BEA. These adjusted data are then summed to the six end-use aggregates for publication (see exhibit 6). The United States International Trade Commission is an independent, nonpartisan, quasi-judicial federal agency that fulfills a range of trade-related mandates. How are trading partner/regional groups defined? They rule on motions during the trial stage and, following the trial, make an initial determination as to whether a violation of section 337 exists. Other petroleum products decreased $0.9 billion. In accordance with the Government in the Sunshine Act of 1976, USITC fosters transparency by posting public notices of Commission meetings and hearings. Data adjusted for seasonal variation on a real, or chained-dollar, basis (2012 reference year) are presented in exhibits 10 and 11. Upcoming Outreach Activities. For November, revised export carry-over was $0.2 billion (0.1 percent) and revised import carry-over was $0.1 billion (less than 0.1 percent). Average imports increased $12.4 billion from December 2017. Merchandise Trade Statistics: A Quality Profile" (October 2014) for a detailed discussion of errors affecting the goods data. Copy link. Professional and management consulting services include legal services, accounting, management consulting, managerial services, public relations services, advertising, and market research. 1. The Advance Report contains advance statistics for goods trade on a Census basis by principal end-use category, thus providing users an earlier high-level snapshot of U.S. international trade for the featured month. This page provides access to an archive of News Releases previously published by the Bureau of Economic Analysis. Travel includes business and personal travel. Data for goods on a Census basis are compiled from the documents collected by U.S. Customs and Border Protection (CBP) and reflect the movement of goods between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and U.S. Foreign Trade Zones. After the initial revision, no further revisions are made to a month until more complete source data become available in March, June, September, and December. Several topics, in their own way, impact US trade policy, some more immediately than others, some more emphatically than others, and still others less so. ), Table US.1 U.S. total exports, general imports, and merchandise trade balance, by major industry/commodity sectors, 2014–18, Figure US.1 Total U.S. exports, general imports and trade balance, 2014–18 (billion $). The USITC conducts investigations on matters involving international trade and industry competitiveness. Sept. 24, 2018. Border Patrol Sectors. ), Table US.2 All merchandise sectors: Leading changes in U.S. exports and imports, 2014–18, Aircraft, spacecraft, and related equipment (TE013), Aircraft engines and gas turbines (TE001), Computers, peripherals, and parts (EL017), The value of U.S. general imports increased for the 10 merchandise sectors included in the report, rising a combined $200.8 billion (8.6 percent) to $2.5 trillion from 2017 to 2018. [30] These increases in U.S. imports from Mexico were partially offset by a decrease in imports of consumer electronics[31] and motor vehicles. BEA's data API: BEA's data API, available at apps.bea.gov/API/signup/index.cfm, provides programmatic access to BEA's published economic statistics using industry-standard methods and procedures. USITC offices assist in investigating imports claimed to injure a domestic industry, in investigating violations of U.S. intellectual property rights, and in providing independent analysis and information on tariffs, trade and competitiveness. The seasonally adjusted country and world area data will not sum to the seasonally adjusted commodity-based totals because the seasonally adjusted country and world area data and the commodity-based totals are derived from different aggregations of the export and import data and from different seasonal adjustment models. The deficit with China increased $43.6 billion to $419.2 billion in 2018. Year in Trade, HTS e-learning module Other petroleum products increased $14.4 billion. Miscellaneous Tariff Bill (MTB) Information Page, Office of Industries United States Trade Representative Robert Lighthizer gratefully acknowledges the The US trade shortfall rose to US$375.6 billion in 2017 before the start of the trade war, from US$103.1 billion in 2002. At the sector level, the increases in U.S. exports were led by three product sectors: energy-related products, transportation equipment, and chemical products. Along US Borders. Purchases can be either for own use or for gifts to others. This agreed consultation will help to inform our overall approach to our future trade relationship and trade negotiations with the US. The Census Bureau has determined that not all required documents are filed, particularly for exports. USDA agricultural goods and NAICS manufactured goods are not mutually exclusive categories. A listing of the USITC offices and contact information. External links to other Internet sites should not be construed as an endorsement of the … Higher exports of energy-related products in 2018, such as crude petroleum (up $24.6 billion, or 108.9 percent), petroleum products ($18.1 billion, 21.2 percent), and natural gas ($6.4 billion, 27.0 percent), reflected an increase in both the value and the volume of exports. However, the data are still subject to several types of nonsampling errors. or use our feedback form! The United States and Chile Hold the Twelfth Meeting of the Free Trade Commission under the U.S.-Chile Free Trade Agreement 2018-10-16 U.S. Average exports increased $6.2 billion from December 2017. Computer accessories increased $2.5 billion. Imports of goods increased $5.1 billion to $217.2 billion in December. Deficits were recorded, in billions of dollars, with China ($419.2), European Union ($169.3), Mexico ($81.5), Germany ($68.3), Japan ($67.6), Ireland ($46.8), Italy ($31.6), Malaysia ($26.5), India ($21.3), OPEC ($21.2), Canada ($19.8), Thailand ($19.3), Switzerland ($18.9), South Korea ($17.9), France ($16.2), Taiwan ($15.5), Russia ($14.1), Indonesia ($12.6), and Saudi Arabia ($10.5).   Forest Products For November, unadjusted exports of goods were revised down $0.1 billion and unadjusted imports of goods were revised up $0.1 billion. How are trading partner/regional groups defined? Quick lookup; data for individual tariff lines. Inland freight in Canada and Mexico - This addition is made for inland freight in Canada and Mexico. For imports from Canada and Mexico, this should be the cost of the goods at the U.S. border. These revisions are reflected in totals, end-use, commodity, and country summary data. tradeshifts@usitc.gov. The United States had a small trade surplus of 26.5 billion in agricultural products in 2018 (this sector is part of trade in non-petroleum products). Travel (for all purposes including education) - Includes goods and services acquired by nonresidents while abroad. [16] USITC DataWeb/USDOC, digest EL017 (accessed March 15, 2019). Amounts received by a parent company from its affiliates for general overhead expenses related to these services are included. Insurance services decreased $13.0 billion. The CIF (cost, insurance, and freight) value represents the landed value of the merchandise at the first port of arrival in the United States. Administrative Law Judges conduct the trial phase of Commission investigations under section 337 of the Tariff Act of 1930 (19 U.S.C. It also increased with Canada and Mexico, rising $2.7 billion (15.9 percent) and $10.6 billion (14.9 percent), respectively. Other industrial machines increased $2.9 billion. Meanwhile, U.S. exports of aircraft engines and gas turbines declined $766 million (7.7 percent), a decrease that was led by lower exports to countries including Saudi Arabia, Hungary, Singapore, and Canada. For total exports and imports, data users should refer to the commodity-based totals shown in the other exhibits. Contact the International Trade Macro Analysis Branch: Email us! African Development Bank experts warn that the trade tensions could cause a 2.5 percent reduction in GDP Imports of goods on a Census basis increased $200.8 billion. Services include securities brokerage and underwriting, financial management, financial advisory, and custody services; credit and other credit-related services; and securities lending, electronic funds transfer, and other services. In fact, the trade deficit in energy-related products continued to fall in 2018, as it had during 2014–17, declining 13.1 billion (24.5 percent) from the previous year.