Trade Quiz #1: TRUE or FALSE All together $412 million worth of goods comes into and goes out of the U.S. every day. FALSE. $6.9 BILLION worth of goods comes into and out of the U.S. every day.

Trade Quiz #2: TRUE or FALSE The United States exports more goods than it imports. False. The U.S. has been importing about $60 billion more than it has been exporting every month for the past several years.

Trade Quiz #3: TRUE or FALSE The top two U.S. trading partners are China and Mexico. False. Canada is by far our #1 trading partner—combined exports and imports= $416 billion in 2008 China and the U.S. had total combined trade of $267 billion. However, the U.S. has by the far the biggest trade DEFICIT with China. Imports from Canada ($238 billion) –Exports to Canada ($178 billion)=$60 billion deficit Imports from China ($235 billion) – Exports to China ($31 billion)=$204 billion deficit

U.S./Canada Trade U.S. Exports to Canada: Autos/Auto parts Computer equipment Electrical equipment Engines/turboengines Recorded media Optical equipment Precision instruments

U.S./Canada Trade U.S. Imports from Canada: Autos/Auto parts Natural Gas Petroleum products Electricity Engines Aircraft equipment Wood Paper products

Trade Quiz True. #4: TRUE or FALSE The United States is the world leader in the export of services (industries such as telecommunications, banking, and insurance. True.

Trade Quiz True. 59 % of its oil is imported. #5: TRUE or FALSE The U.S. imports over 50 percent of the oil it uses. True. 59 % of its oil is imported.