In a time of record exports and imports, who is the US trading with and how does it affect states?

Last month, the president signed the United States-Mexico-Canada Agreement. He also made a trade pact that calls on China to import $200 billion more worth of goods and services from the US while preserving tariffs implemented in 2019.

Any effect from the deals will come after a period of increased international trade. The United States is exporting and importing more now than ever, according to data from the Bureau of Economic Analysis (BEA) and the US Census Bureau.

The nine most recent quarters for which data is available (July 2017 to September 2019) rank as the highest volume quarters for both imports and exports in American history. Import growth is outpacing export growth; however, the trade deficit remains well below the record 2006 deficit of more than $1 trillion (adjusted to 2019 dollars).