US Electronic Products Import in 2018

In the first half of 2018, electronic products import accounted for 13.4% of total US imports and export accounted for 9% of total exports. Although US policy increasingly focuses on reducing the country’s trade deficit, the electronics industry remains the industry with the biggest gap. So far in 2018, the total products import volume has reached $18.7 billion. Electronics exports reached $9.1 billion, and the trade deficit in the electronics industry was close to $10 billion in 2018.

Among the top 25 electronic products imports, video game machine (HS 95045000) ranking the 14th grew the fastest, increasing by 55% in the second quarter of 2018 compared with the same period of 2017, and increased by 62% year-on-year in the first half. Imported products of this category from China dominated, growing by nearly 57% in 2Q18 compared to the second quarter of 2017 while imports from Mexico fell by 1%.

Diode (HS 85414060) imports in the second quarter fell by 26% from the second quarter of 2017, the largest drop among all top electronics categories. In the first half of 2018, diode imports fell by only 5% year-on-year. Since the second quarter of 2012, imports of HS 854140 from Malaysia, South Korea and Vietnam decreased by 41%, 47% and 43% respectively compared with the second quarter of 2017; imports from China increased by 2% and from Japanese increased by 11%.

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US soybean exports fell sharply in 2018 due to trade war

With the farewell to 2018, the only key issue in the global economy is the trade war between the United States and China. Market research experts said there may be no signs of any mitigation in 2019. Both countries are involved in the trade war, as each country continues the dispute and to impose tariffs on goods traded between them. However, according to
China soybean import statistics, at the end of the year 2018, China imported soybeans from the United States for the first time since the Sino-US trade war. This is good news.

China imported US soybeans for the first time since the trade war

US soybeans re-entered the Chinese market after China imported them from the United States on December 12th, 2018. But it just accounted for a small portion of China soybeans import. Since the Trump administration began a trade war with China in July last year, American farmers have suffered severe losses.

Chinese state-owned enterprises have purchased at least 500,000 tons of US soybeans in December last year. This is the first major soybeans transaction since US President Donald Trump and Chinese President Xi Jinping met in early December. China is the largest buyer of US soybeans, but since US imposed high tariffs on Chinese goods on July 6th, China has purchased very little.

United States soybeans export to China January – October 2018

According to the trade statistics of China and the US, US soybean exports to China have fallen sharply in 2018 due to escalating trade tensions between the world’s two largest economies. According to the latest market intelligence data from January to October 2018, the total US soybean exports to China fell sharply to US$3.093 billion.

Tradedigits’s Business Intelligence Data contains detailed customs B/L or declaration records on global 20 countries’ import and export, with detailed trade analysis reports. To look for real global buyers and suppliers of your product(s), to monitor the trade activity of your competitors, to master the market prices in one country…, come to Tradedigits, to make your international trade more relaxing.

The Trump administration to explore mechanisms to increase tariffs on Chinese cars

According to Reuters, US Trade Representative Robert Rheinheiser said on Wednesday that he would study all the mechanisms to increase tariffs on Chinese cars.

Lightheiser clarified that he took such action under the direction of US President Donald Trump and criticized China’s “obvious” responsibility for American cars.

“As the President has repeatedly pointed out, China’s active, state-led industrial policies are causing serious damage to American workers and producers,” Lightheiser said.

In addition to the 2.5% tariff, which is usually charged, the United States imposes a 25% tariff on Chinese cars.

In July, China raised the import tariff on American cars to 40%. This occurred a few days after the tariffs on foreign cars and spare parts fell from 25% to 15%.

Donald Trump has expected to meet with Chinese President Xi Jinping at the G20 summit in Buenos Aires from November 30th to December 1st.

According to Vesti.Ekonomika, on the eve of the summit, the White House Chief Economic Adviser Larry Kadlow questioned the settlement of the trade conflict with China and said that the negotiations did not move forward and a new round of tariffs may emerge.

Earlier this week, Trump said in an interview with The Wall Street Journal that he was “very unlikely” to increase China’s import tariffs from 10% in February to 25% since January 1st. He also threatened to impose an additional tariff of $267 billion on Chinese goods.

US cancels tax exemptions for 50 Indian products

The United States has lifted tax exemptions for imports of more than 50 Indian products. Various Indian products exported to the United States, such as leather, textiles, dairy products, chemicals, musical instruments, processed fruits and vegetables will no longer enjoy tax-free benefits, and the free tax exemption will take effect on November 1st, 2018. India exports these goods to the United States each year at an estimated $75 million.

“In 2017, the number of eligible items exported by certain beneficiary developing countries exceeded the applicable competitive demand limit. I hereby terminate the tax exemption for such items from these beneficiary developing countries,” US President Donald Trump said.

The United States has also signed tariff reduction agreements with other global countries such as Thailand, Argentina, Pakistan, Turkey, the Philippines, Brazil, Suriname, Belize, Ecuador, Falkland, Kazakhstan, Egypt, Bosnia and Herzegovina.

However, 50 Indian products were affected, and according to the GSP benefits to developing countries, India received a $5.6 billion tariff reduction through the prior tax exemptions scheme, which has made it a big beneficiary.

“The limit is reviewed every year because the GSP is not reciprocal and the US has not received any returns,” said one trade expert.

To learn more about US buyers list and US market, please visit US import data for details.

China’s trade surplus with US hits a record high in September

Against the backdrop of a worsening trade conflict between the world’s two largest economies, China’s trade surplus with the United States in September rose to a record high. In terms of China’s exports to the United States, the annual export growth rate accelerated to 14%, compared with 13.2% in August. While China’s imports from the United States fell by 1.2%, which was the first import decline since February.

The trade surplus with the United States in August was $34.13 billion, surpassing the record figure of $31.05 billion set earlier in August.

From January to September, China’s trade surplus with the United States was $225.79 billion, compared with $196.01 billion in the same period last year.

According to the reports from US media, in September, the United States imposed a 10% tariff on Chinese goods worth 200 billion U.S. dollars. As a result, the total value of goods affected by tariffs has increased to $250 billion. China’s tariff on US goods has increased the total value of the affected goods to 110 billion US dollars.

Despite the deterioration of relations with the United States, China’s total export growth in September was higher than expected due to strong domestic and international demand, while imports remained stable.

According to the data of the General Administration of Customs of China, in terms of US dollars, China’s exports in September grew by 14.5% year-on-year, while in August it increased by 9.8% year-on-year.

Search USA import shipment information by Tradedigits’s US import data.

US import trade intelligence data

US customs data is derived from US bill of lading data and US manifest data, detailing each shipment information of goods imported by US importers from around the world.

The value of US import customs data to foreign trade enterprises

● Know your market

We offer customized reports for companies who want to do business with US including US importers report, US suppliers report, price report, etc.. We also provide trade data consultation.

● Know your competitors

The report provides insight into suppliers information, so if you are a exporter, you can know the transaction information of other US’s suppliers who are your competitors. Our customers can find business opportunities by our US customs import data so as to improve their business performance.

● Learn your potential customers

Our data is updated timely, so can know the dynamic of the US buyers timely, too. By comparison of our US buyers reports updated monthly, you can have the knowledge who your potential buyers are in US, thus make corresponding strategies to turn these potential customers into real customers.

US Customs Trade Data

※ Tradedigits allows you to check the US Customs import records for millions of real shipments online.

※ You can search for the names of overseas suppliers or American importers. so you are able to know who is importing from whom.

※ You can also find import records for specific products.

At present, we provide a free 7-day trial service for the US import data. Simply log in the website-data.inforvellor.com and register for an account, then you can start using it immediately.

US’s trade deficit rose to the highest level in five months

US&Mexico agree to impose quantity restrictions on car imports

According to the report of Nihon Keizai Shimbun, the United States and Mexico renegotiated around the North American Free Trade Agreement (NAFTA) and agreed that if the passenger car imports exceed a certain level, the United States has the right to impose a maximum of 25% tariff. The plan is to set an upper limit of 2.4 million units, equivalent to 140% of the number of exports achieved in 2017. This becomes an exact quantitative limit and reappears the prone approach of high tariffs carried out by the Trump administration seeking to protect its own industries.

In 2017, Mexico exported 1.7 million passenger cars to the United States. If the number is limited, there will be about 40% export growth before the 25% tariff applies.

The above provisions were included in the subsidiary documents of the NAFTA-related bilateral agreement between the United States and Mexico on the 27th August. Mexican Economy Minister Guajardo revealed the above news to the local media on August 29th.

Within the quantity quota, as before, products that comply with the NAFTA “Rules of Origin” are not subject to customs duties. For those can not meet the rules, will suffer the 2.5% tariff.

The Trump administration of the United States is discussing the imposition of an additional tariff of 25% on imported cars from such as Japan and Europe on the grounds of influencing security.

Alcoa seeks to obtain an aluminum tariff exemption

US’s trade deficit rose to the highest level in five months

According to Reuters, the US trade deficit in July rose to its highest level in five months, as the exports of soy bean and civilian aircraft fell and imports increase broke a record.

According to the US Department of Commerce, the trade deficit in July increased by 9.5% to $50.1 billion.

According to US customs data, US exports in July fell by 1% to 211.1 billion U.S. dollars month-on-month, and imports rose by 0.9% to 261.2 billion U.S. dollars compared with last month. The trade deficit increased to $50.1 billion in July, higher than the revised trade deficit of $45.7 billion in the previous month, an increase of 9.5%. The data also shows that the US trade deficit in goods trade and services trade in the first seven months of this year totaled about $337.9 billion, an increase of 7% than the same period last year.

Economists generally believe that the US unilateral trade protectionism policy can not reduce the trade deficit; on the contrary, with the expansion of the US fiscal deficit, the decline in private savings, the increase of interest rate and the US dollar exchange rate, the US trade deficit will continue to expand.

Maurice Obstfeld, chief economist of the International Monetary Fund, told reporters from Xinhua News Agency that the way that the US attempts to cut trade deficits by adding tariffs is totally a mistake, which will not help solve global trade imbalances problem. Instead, it will exacerbate trade tensions and undermine global economic growth.

US import data system

Turkey significantly increases tariffs on US products

The Associated Press reported on August 15 that Turkey issued a notice saying that it would increase tariffs on some imported goods from the United States, including passenger cars, alcohol, and tobacco, etc..

On Wednesday, Turkey announced in the official gazette that it would impose additional tariffs on imported products including rice, cars, alcohol, coal and cosmetics.

Reuters reported on the 15th that the decree signed by Erdogan showed that Turkey increased the tariff on passenger cars imported from the United States by 120%, the tariff on alcoholic beverages by 140%, and tobacco by 60%. Tariffs on commodities such as cosmetics, rice and coal have also increased.

Earlier, Turkish President Erdogan had just announced a boycott against US electronics.

Recently, a diplomatic conflict broke out between the United States and Turkey due to the arrest of American pastor Brunson. US President Trump announced on Twitter that he decided to double the tax on steel and aluminum imported from Turkey, which caused the plummet of Turkish lira.

Turkish President Erdogan said that the lira plunging was a “political conspiracy” against Turkey, with the aim of surrendering Turkey in all areas from finance to politics. Erdogan said that Turkey will launch a counter-attack and find “new markets and allies.”

US bill of lading import data

US bill of lading import data

The US bill of lading import data is searched according to the product keyword. It records in detail the data of each ocean bill of lading of goods imported by the US importer from the world. The US data provided by Tradedigits is updated every 7 days in the language of English.

US Customs Import Data(equal to US bill of lading import data) fields include:

Company information: US Buyer, Buyer Address, Buyer Phone, Buyer Email, Buyer Website, Foreign Supplier, Supplier Contact, Notifier, Notifier Contact Information.

Shipping information: vessel name, voyage number, loading port (start port), port of unloading (destination port), origin country, container number, arrival date.

Cargo information: goods description, quantity, quantity unit, weight, weight unit, marks.

Tradedigits is a global provider of international trade data intelligent query and analysis systems, providing the International Business Intelligence Data Information Platforms for international trade research and international logistics research, corporate credit and competitiveness research, industry, industry and market research, and policy formulation and so on. The International Business Intelligence Data Information Platform helps customers monitor competitors, evaluate suppliers, develop potential customers, track existing customers, understand the industry market trend, predict the future, prevent business risks, take the initiative to seize market opportunities and win new development advantages.

US import data system