#1: TRUE or FALSEAll together $412 million worth of goods

comes into and goes out of the U.S. every day.

Trade Quiz

FALSE. $6.9 BILLION worth of goods comes into and out of the U.S. every day.

Trade Quiz

#2: TRUE or FALSE

The United States exports more goods than it imports.

False. The U.S. has been importing about $60 billion more than it has been exporting every month for the past several years.

#3: TRUE or FALSE

The top two U.S. trading partners are China and Mexico.

Trade Quiz

False. Canada is by far our #1 trading partner—combined exports and imports= $416 billion in 2008

China and the U.S. had total combined trade of $267 billion.

However, the U.S. has by the far the biggest trade DEFICIT with China.Imports from Canada ($238 billion) –Exports to Canada ($178 billion)=$60 billion deficit

Imports from China ($235 billion) – Exports to China ($31 billion)=$204 billion deficit

U.S./Canada TradeU.S. Exports to Canada:

Autos/Auto partsComputer equipmentElectrical equipmentEngines/turboenginesRecorded mediaOptical equipmentPrecision instruments

U.S./Canada TradeU.S. Imports from Canada:

Autos/Auto parts

Natural Gas

Petroleum products

Electricity

Engines

Aircraft equipment

Wood

Paper products

#4: TRUE or FALSE

The United States is the world leader in the export of services (industries such as telecommunications, banking, and insurance.

Trade Quiz

True.

#5: TRUE or FALSE

The U.S. imports over 50 percent of the oil it uses.

Trade Quiz

True. 59 % of its oil is imported.