USA ISLOATION ECONOMY 2025

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NOV 6TH, 2024

12507091809 : SQYX : 12507091809

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The ten of the most strategic U.S. international trade agreements in 2024

1. U.S.-Mexico-Canada Agreement (USMCA): Continues to be a cornerstone for North American trade, supporting workers and businesses across the continent1.

2. Indo-Pacific Economic Framework for Prosperity (IPEF): Advances high-standard trade commitments with key partners in the Indo-Pacific region1.

3. U.S.-Taiwan 21st Century Trade Initiative: Focuses on high-standard commitments and economically meaningful outcomes1.

4. U.S.-Kenya Strategic Trade and Investment Partnership: Aims to increase investment and promote sustainable economic growth1.

5. Americas Partnership for Economic Prosperity: Enhances economic cooperation within the Western Hemisphere1.

6. U.S.-Japan Digital Trade Agreement: Covers digital trade and some tariff reductions2.

7. U.S.-South Korea Free Trade Agreement (KORUS): Includes recent updates to address modern trade challenges2.

8. U.S.-China Agreement on Cooperation in Science and Technology: Extends cooperation in key scientific and technological areas3.

9. U.S.-Australia Agreement on Access to Electronic Data: Aims to counter serious crime through data sharing3.

10. U.S.-Argentina Arrangement for Nuclear Safety Cooperation: Focuses on the exchange of technical information and cooperation in nuclear safety3.

These agreements reflect the U.S.'s strategic priorities in fostering economic growth, enhancing security, and promoting sustainable development globally.

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USMCA : USA - MEXICO - CANADA TRADE AGREEMENT : USMCA

In 2024, the United States-Mexico-Canada Agreement (USMCA) continues to be a significant driver of economic activity in North America. The total trade value within the USMCA region is estimated to be around $1.8 trillion annually1. This agreement supports approximately 17 million jobs across the three countries1.

Additionally, the USMCA is projected to spur over $68 billion in new economic activity2, highlighting its role in fostering economic growth and stability in the region.

US TRADE BALANCE : 2021-2024 : IMPORTS Vs EXPORTS

Between 2021 and 2024, the U.S. trade balance has consistently shown a deficit, reflecting the country’s higher imports compared to exports. Here are the key figures for each year:

• 2021: The trade deficit was approximately $858.24 billion1.

• 2022: The deficit increased to around $971.12 billion1.

• 2023: The trade deficit continued to grow, reaching about $1.02 trillion2.

• 2024: As of the latest data, the trade deficit is estimated to be around $1.05 trillion2.

These figures highlight the ongoing challenges and dynamics in the U.S. trade landscape, with significant impacts on the economy.

USA CURRENCY VERSUS CHINESE CURRENCY

Here are the exchange rates for the US Dollar (USD) in terms of Chinese Yuan (CNY) for September of each year from 2021 to 2024:

• September 2021: 1 USD = 6.45 CNY1

• September 2022: 1 USD = 6.91 CNY2

• September 2023: 1 USD = 7.34 CNY3

• September 2024: 1 USD = 7.03 CNY4

These values reflect the fluctuations in the exchange rate over the past few years.

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Respectfully Published By

Publisher : Ralph Charles Goodwin : Chief Editor

1 250 709 1809

NOV 6TH, 2024

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