MINNEAPOLIS (WCCO) — We hear a lot of political talk about trade this election year.
The United States, overall, imports more than it exports to the tune of more than a half-trillion dollars a year.
So what exactly do we make in the U.S.?
“When we go shopping, we don’t even expect to see things made in the U.S. anymore in most categories,” says George John, the chair of the marketing department at the Carlson School of Management.
Most of the clothes, furniture and textiles in the U.S. are imported and have been for several decades.
Food, however, is a different story, as much of it in the U.S. is domestically produced. Corn and soybeans are two of the biggest U.S. exports.
The top U.S. exports are refined petroleum, cars, planes/helicopters/spacecraft and vehicle parts.
“We are a big exporter of planes, but let’s be careful,” John said. “You have a Boeing, those wings may have been made in Italy, the under carriage may have been made in Britain, the Rolls Royce engines maybe made in the U.K.”
The top U.S. imports are crude petroleum, cars, computers and refined petroleum, which are all shipped all over the world.
The biggest U.S. export partners are Canada, Mexico and China. The biggest import partner is China.