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China and NAFTA members remain top trade partners

China, Canada and Mexico were the top U.S. trade partners in 2015. Total trade (the absolute sum of exports and imports) between the U.S. and the three countries represented 48% of total global trade for the U.S. The U.S. ran a trade deficit with each of the top 10 countries by total trade, and came closest to parity with the U.K., where the deficit is $219 million. The $337 billion trade deficit with China is nearly four times larger than the next largest deficit - Mexico with $89 billion.

The proportion of total trade between emerging and developed markets is about even, with emerging markets slightly higher. The most significant difference was that the U.S. exported $85.5 billion more to developed markets and imported $138 billion from emerging countries.

2016 data are not yet complete. Through August 2016, total trade between the U.S. and China, Canada and Mexico was just over $1 trillion, representing 43% of U.S. trade with the world. The trade deficit was $215 billion with China through the end of August and $494 billion with the world as a whole.