Trade imbalances are being re-balanced to the favor of the US by negotiating freer, fairer, and reciprocal trade agreements with allies.
Trade Deals:
The United States – Mexico – Canada Agreement (USMCA) replaces NAFTA to spur growth, create over 500,000 jobs, and add over $235 Billion to the US economy.
US-Japan trade deal benefiting US farmers and ranchers.
US-Korea trade deal (KORUS) to the advantage of US workers.
US-China trade deal included increased agriculture purchased by $12.5 billion in 2020 and $19.5 billion in 2021. Total deal at $250 billion in new trade and investment. Includes tariffs on China products in response to forced technology transfer, intellectual property theft, and abusive trade practices.
US-Vietnam trade deal is the most comprehensive trade agreement to date for $12 billion.
US-European Union trade deal to work toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-automotive industrial goods. Objective is to increase US exports to the EU.