Posted August 24, 2021
Significant drops in transport and travel due to coronavirus drove American exports in 2020 down 15.7% to their lowest levels since 2010 , according to Commerce Department data released Feb. 5, 2021. The pandemic threw a monkey wrench into supply chains while flattening demand, all in the midst of significant tariffs imposed by the United States on China and the European Union.
The trade gap grew from $576.9 billion in 2019 to $678.7 billion in 2020. Meanwhile, China reestablished its standing as the top U.S. trade partner after being third in 2019 behind Mexico and Canada.
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