拉丁美洲经济委员会-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, the circular economy, and gender-related trade issues. It is prepared by the ECLAC Washington Office and reflects the author's views, not necessarily those of the Organization or its member countries.

Main Points

United States Trade in Goods and Services

• Overall Recovery: After a significant decline in 2020 due to the impact of the pandemic, the United States trade in goods and services showed a robust recovery in 2021.
• Trade Deficit: The U.S. continues to maintain a trade deficit in goods and a surplus in services. In the first seven months of 2021, the trade deficit in goods reached $626 billion, while the services surplus was $142 billion.
• Service Categories: The services surplus increased in most major categories such as financial services and intellectual property charges, but deficits persisted in transport, construction insurance, and government services.
• Trade Partners: The top 15 trade partners accounted for 75% of total U.S. trade in goods, with Mexico and Canada being the largest partners. China remains the largest goods trade partner, though the U.S. trade deficit with China is the largest in the world.

United States-China Trade Relations

• Phase-One Agreement: The U.S. continues to enforce the "Phase-One Agreement" with China, which aims to address trade imbalances and unfair practices.
• Tariff Exclusions: The U.S. plans to reestablish a "targeted tariff exclusion process" to reduce tariffs on goods imported by companies that want to benefit from the agreement.
• Trade Tensions: Despite the agreement, the U.S. remains committed to addressing China's state-centered trade practices and strengthening its trade position through domestic investment and alliances.

Circular Economy and Trade

• Initiatives in North America: The U.S., Canada, and other countries are advancing circular economy (CE) initiatives, focusing on sustainable production and consumption.
• CE Goods Trade: The U.S. has a growing share of CE goods in its trade, with significant imports and exports in sectors such as electronics, machinery, and textiles.
• Trade with Latin America and the Caribbean: The U.S. imports and exports CE goods with Latin American and Caribbean countries, with Mexico being a key partner in this area.

Trade and Gender

• Free Trade Agreements (FTAs): The U.S. has several FTAs with Latin American and Caribbean countries, including the USMCA, CCFTA, and CIFTA.
• Gender Considerations: The report emphasizes the importance of integrating gender perspectives into trade policies and highlights best practices from agreements such as the Chile-Uruguay FTA.
• WTO Working Group: The U.S. supports the WTO Informal Working Group on Trade and Gender, which aims to promote gender equality in trade.

Key Information

• Trade Recovery: The U.S. trade in goods rebounded in 2021, with a 23.6% increase in exports and 23.8% increase in imports compared to 2020.
• Top Trade Partners: Mexico and Canada are the top trade partners, followed by China, Japan, and Germany.
• Covid-19 Impact: The pandemic significantly affected trade in services, especially travel, transport, and tourism, but goods trade recovered across all categories.
• Executive Order 14005: Signed by President Biden, this order aims to increase domestic manufacturing and protect U.S. workers by prioritizing "Made in America" products in federal procurement.
• Trade Deficit with China: The U.S. trade deficit with China reached $187 billion in 2021, three times that with Mexico.
• Circular Economy Initiatives: The U.S. has made progress in promoting circular economy practices, with a notable share of CE goods in trade with Latin America and the Caribbean.
• Gender in Trade: The U.S. is working to integrate gender perspectives into trade agreements and policies, with examples from various FTAs and the WTO working group.

Conclusion

The report outlines the recovery of U.S. trade in goods and services, the ongoing trade tensions with China, and the increasing focus on sustainable and equitable trade practices, including the circular economy and gender considerations. It also highlights the importance of regional trade agreements and the need for continued efforts to address global trade challenges and promote inclusive growth.