Trends in U.S. Merchandise Trade, 2022 Part 1

This working paper—the first in a series of four papers providing analysis on U.S. merchandise trade in 2022—discusses U.S. and global macroeconomic trends impacting trade in 2022 as well as trends in U.S. trade by industry sector and trading partner. The remaining three working papers will cover ten industry sectors, providing discussion and analysis on U.S. exports, imports, and trade balance by sector (e.g., agriculture), digest (e.g., poultry or oilseeds), and leading U.S. trade partner. The second working paper will cover agricultural products, energy-related products, forestry products, and minerals and metals whereas the third paper will cover chemicals and related products, footwear, and textiles and the fourth paper will cover electronic products, machinery, and transportation equipment. These working papers are intended to be read with the aforementioned interactive data tables and figures that can be found on the USITC website at: https://www.usitc.gov/research_and_analysis/tradeshifts/2022/index.