U.S. trade deficits with other countries can vary significantly, depending on how they’re measured
The United States runs a far larger merchandise trade deficit with China than with any other nation. But when the trade deficit is measured in other ways, the U.S. actually has a larger imbalance with countries outside of China.
Despite talk of ‘trade war’ with China, highest U.S. tariffs are on imports from other Asian countries
The highest U.S. tariffs aren’t on imports from its biggest trading partners, but on products from several developing South Asian nations whose exports are heavily weighted toward clothing, footwear and other products that the U.S. generally taxes highly.
U.S. tariffs vary a lot, but the highest duties tend to be on imported clothing
Average tariff rates, while useful for comparison, can obscure the wide range of rates imposed on different classes of imports and on specific products.
U.S. tariffs are among the lowest in the world – and in the nation’s history
The Trump administration’s plans to impose $50 billion in tariffs on Chinese imports, as well as tariffs recently placed on imported steel and aluminum and on imports of solar panels and washing machines, mark a distinct break from decades of U.S. trade policy, which long has generally favored lower tariffs and fewer restrictions on the movement of goods and services across international borders.
Remittances from abroad are major economic assets for some developing countries
For five countries – Nepal, Kyrgyzstan, Haiti, Tajikistan and Liberia – remittances from citizens abroad are equivalent to at least a quarter of GDP.
Remittance Flows Worldwide in 2016
Worldwide, an estimated $574 billion (USD) was sent by migrants to relatives in their home countries in 2016, a 1% decline from 2015, when the amount was $581 billion, according to economists at the World Bank.
Migrants from Latin America and the Caribbean sent a record amount of money to their home countries in 2016
Remittance flows decreased worldwide for a second consecutive year in 2016, the first back-to-back decline in over three decades. Remittances to Latin America and the Caribbean, however, rose to a record high.
Number of U.S. workers employed by foreign-owned companies is on the rise
Foreign-owned companies employed 6.8 million workers in the United States in 2015, up 22% from 2007. Overall, foreign-owned companies accounted for 5.5% of all U.S. private sector employment in 2015.
Dissatisfaction was widespread in Spain even before Catalan secession vote
Catalonia’s recent secession attempts come at a difficult time for Spain. Across the country, people distrust the national government and feel dissatisfied with the way democracy is working in their nation. And Catalans are even more negative on these issues than those living in other regions of Spain, according to a new analysis of data […]
5 facts about government debt around the world
Public debt has increased sharply in many countries in recent years, particularly during and after the Great Recession.