拉丁美洲经济委员会-2021美国-拉丁美洲和加勒比贸易发展（英）-2021.12-59页_1004kb

2021 United States-Latin America and the Caribbean Trade Developments Summary

Core Content

This report provides an overview of the United States' trade developments with Latin America and the Caribbean in 2021, highlighting trends in goods and services trade, trade relations with China, and the integration of the circular economy and gender considerations into trade policy.

Main Points

I. United States Trade

A. Trade in Goods and Services

• Overall Recovery: After a significant decline in 2020 due to the pandemic, the U.S. trade in goods and services showed a robust recovery in 2021.
• Goods Trade:
  • Exports increased by $190 billion (23.6%) and imports by $312 billion (23.8%) from January to July 2021.
  • All major end-use categories of goods, including industrial supplies, auto vehicles, and consumer goods, saw recovery.
• Services Trade:
  • The U.S. recorded a trade surplus in services since 2000, which peaked at $300 billion in 2018.
  • In 2020, the surplus dropped to $234 billion, primarily due to the impact of pandemic restrictions on travel, transport, and tourism.
  • Services such as financial services, intellectual property charges, and telecommunications showed growing surpluses, while transport and construction insurance continued to show deficits.

B. Trade with Latin America and the Caribbean

• The U.S. imports from Latin America and the Caribbean increased significantly in 2021, especially in goods related to the pandemic.
• The U.S. has six free trade agreements (FTAs) with 12 countries in the region, including the USMCA with Mexico and Canada, and agreements with Chile, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic.
• Trade Partners: Mexico and Canada are the top two trade partners, with $376 billion and $373 billion in total trade respectively.
• Trade Deficit: The U.S. trade deficit with China remains the largest, at $187 billion, compared to $61.2 billion with Mexico.

C. Trade in COVID-19 Related Goods

• Trade in goods related to the pandemic, such as medical equipment and pharmaceuticals, saw a notable increase in 2021.
• The U.S. imported $1.62 trillion in goods from Latin America and the Caribbean in the first seven months of 2021, showing a strong rebound in demand for these products.

II. United States-China Trade Relations

• The Biden administration continued to enforce the Phase-One Agreement with China and aimed to reestablish a targeted tariff exclusion process.
• The administration emphasized the need to address China's unfair trade practices and to work with allies to create fair and open markets.
• The U.S. trade deficit with China was $187 billion in 2021, three times larger than with Mexico.

III. Trade and the Circular Economy

• The report includes a section on the circular economy, emphasizing sustainable practices and resource efficiency.
• North America Initiatives:
  • The U.S. has implemented policies to support the circular economy, including the Executive Order 14005, which aims to increase domestic production and procurement.
  • CE Goods: The share of circular economy goods in U.S. trade has been growing, with specific emphasis on trade with Latin America and the Caribbean.
• Import and Export Trends:
  • The top 15 CE products imported from Latin America and the Caribbean are ranked by average values from 2019-2020.
  • The U.S. exports CE goods to Latin America and the Caribbean, with a focus on sectors like recycling, renewable energy, and sustainable manufacturing.

IV. Trade and Gender

• The report explores how free trade agreements (FTAs) can promote gender equality.
• Examples of Best Practices:
  • The Chile-Uruguay FTA and Canada-Chile FTA (CCFTA) include provisions to enhance gender inclusivity.
  • The Canada-Israel FTA (CIFTA) is also highlighted for its gender-related provisions.
• WTO Informal Working Group (IWG) on Trade and Gender:
  • The U.S. participates in this group to address gender issues in trade policy and promote inclusive economic growth.

Key Information

• Trade Deficit: The U.S. trade deficit in goods increased to $626 billion in the first seven months of 2021.
• Top Trade Partners: Mexico, Canada, and China represent $376 billion, $373 billion, and $353 billion in total trade respectively.
• Services Surplus: The U.S. services surplus in 2021 was $142 billion, a 6% decrease from 2020.
• Circular Economy: CE goods account for an increasing share of U.S. trade, with specific focus on sustainable production and consumption.
• Policy Shifts: The Biden administration is shifting U.S. trade policy towards protecting domestic industries and promoting sustainable development, influenced by the Covid-19 pandemic and global climate goals.

Conclusion

The 2021 U.S. trade developments reflect a complex interplay of recovery from the pandemic, shifts in trade policy, and increasing emphasis on sustainability and inclusivity. The U.S. continues to maintain strong trade relationships with Latin America and the Caribbean, while also addressing global trade challenges with China and advancing the circular economy.