There are many issues related to exports and imports of goods or services with the US. This research paper identifies major issues in international trade, especially in exporting and importing of goods or services with the US. EU countries, China and other major countries that have long maintained good relations with the US in international trade have been facing a number of challenges and issues like intellectual property issues, tariff, and non-tariff related issues etc. This paper presents these major issues in detail and analyzes factors that affect the exports and imports with the US.
Even though the U.S and almost all the countries maintain export and import relation, U.S and European Union countries are the main trading partners accounting the largest bilateral export and import relationship in the world. U.S and E.U economies are accounted to be 58% of the Global GDP. They represent around 37% of world trade accounting to be around EUR 420 billion (European Commission, 2007, p. 5). As the US maintains good relations of trade with EU countries and China, this research paper considers the examples of EU countries or China for illustrating the foreign trade issues of U.S.
It is generally argued that almost all the countries that import goods and services from the U.S seem to take advantages of the open U.S market as they put barriers in the way of U.S exports. A good example is Japan. Japan has many trade barriers and increased tariffs rate that U.S manufacturer and exporters are unable to sell in Japan as much as, in turn, Japanese companies sell in the United States markets (Cateora and Graham, 2007, p. 27).
One of the major issues that U.S manufacturers who export goods or services to other countries face is the high rate of tariffs and other barriers that are imposed by other governments on the importers.