This document provides a summary and analysis of United States merchandise trade data for March 2022 by Paul Young, a CPA and subject matter expert in various fields including trade, supply chain management, and economics. It includes an agenda covering trade balance summaries for the US, analysis of imports and exports by key countries like China and Canada, blogs on energy crises and supply chain issues, and sources of additional information. The document analyzes recent trends in the US trade deficit hitting record highs as imports soar, driven by strong consumer demand and economic recoveries abroad remaining slower than the US. This import growth could pose a headwind to US economic growth if the trade deficit remains elevated.

1. Merchandise Trade – United
States – March 2022
Paul Young CPA CGA
May 5, 2022

2. Paul Young - Bio
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos

3. Agenda
• Summary
• Trade Balance Summary – USA
• Analysis of Imports and Exports
• Trade by key Countries
• USA and China Trade
• Blog – Energy Crisis
• Blog – Supply Chain
• Summary

4. Trade Analysis
- USA
https://www.census.gov/forei
gn-trade/data/index.html
Trade and USA.pdf

5. Country /
Trade – USA
Source – USA government

6. Trade Analysis - USA
Source - https://www.census.gov/foreign-trade/data/index.html

7. China and USA Trade

8. China and USA Trade
Source - https://www.scmp.com/economy/china-economy/article/3166325/us-china-trade-deal-
historic-failure-purchases-more-30-cent and https://www.piie.com/blogs/realtime-economic-
issues-watch/china-bought-none-extra-200-billion-us-exports-trumps-trade
US-China trade deal
a ‘historic failure’ with purchases more than 30 per cent short of target, PIIE report says South China Mornin

9. Blog – Is the World heading to an Energy Crisis –
October 2021
Australia exported 3-13 million tons per month of coal to China in 2020. If China needs 50 million tons per month that is
rapid increase in coal production. It is unclear in China and Australia would be able to ramp to meet the demand. China is
already in a shortage of perhaps 50 million tons per month.
If there is a rapid surge in coal importing to China, there could be overbidding that causes shortages for other Asian
countries. This will also make the supply chain problems even worse.
Prioritizing heating over electricity means more factory shutdowns.
Prioritizing heating coal imports over other supply chain means that the 200 ships waiting to get unloaded get bumped back
at the ports for hundreds of coal ships.
China having coal production problems is tough because building other sources of electricity and heating will take years.
Especially if China wants to get beyond current levels to support 6% per year GDP growth.
https://www.nextbigfuture.com/2021/10/173364.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogsp
ot%2Fadvancednano+%28nextbigfuture%29
This ties nicely to my work on energy - https://www.linkedin.com/pulse/world-heading-energy-crisis-paul-young/

10. Blog - Changes for Supply Chain Workers Needed to Save Global Economy - https://www.linkedin.com/pulse/blog-changes-
supply-chain-workers-needed-save-global-paul-young/?published=t
Transportation worker organizations have an open letter urging world leaders to remove restrictions hampering
the free movement of transport workers, and guarantee and facilitate their free and safe movement.
Land, Sea and air travel worker organizations support $20 trillion of world trade annually and represent 65
million global transport workers, and over 3.5 million road freight and airline companies, as well as more than
80% of the world merchant shipping fleet.
https://www.nextbigfuture.com/2021/09/173322.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed
%3A+blogspot%2Fadvancednano+%28nextbigfuture%29
https://www.slideshare.net/paulyoungcga/how-to-reshore-supply-chain-and-build-a-resilient-supply-chain

11. 5 Maritime Shipping Trends That Are the
Wave of the Future
1. Autonomous ships
2. IoT
3. Blockchain
4. Port automation
5. Digital twins
Source - https://www.thomasnet.com/insights/5-maritime-shipping-trends-that-are-the-
wave-of-the-future/?ecms_id=fa73157e-ea09-4809-95ce-
684f7331a943&ecms_short=ART6523&doc_type=ted_article&sponsored=&acct=&p
arent_id=989b7bcd-7758-47df-999c-
5fa679a630fa&utm_content=featuredstory&position=1&linktype=title&channel=emai
l&campaign_type=thomas_industry_update&campaign_name=tiu220208&utm_camp
aign=tiu220208&utm_medium=email&utm_source=thomas_industry_update&tinid=2
21763045
My work:
https://www.slideshare.net/paulyoungcga/transportation-sector-analysis-and-
commentary-november-2021

12. Supply Chain and Taxes
Companies worldwide are adapting to the pandemic by shifting production closer to customers, but such efforts
to make supply chains more resilient also complicate tax obligations, EY said.
“There’s a lot of benefits that can be obtained” by overhauling global supply chains, according to Craig Hillier,
international tax and transactions services leader at EY. “But there are all these knock-on tax, financial system,
payroll, people, talent issues that need to be addressed as well.”
CFOs need to consider “a whole host of tax issues,” including exit tax cost and transfer of goodwill, Hillier said
Thursday during an EY webinar. At the same time, companies shifting supply chains might gain benefits such as
tax breaks and funding for employment and training, he said, noting “there’s a lot out there at the moment that
companies can take advantage of.”
https://www.cfodive.com/news/supply-chain-overhaul-brings-benefits-tax-complexity-
ey/617973/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-01-
31%20CFO%20Dive%20%5Bissue:39446%5D&utm_term=CFO%20Dive
My work: https://www.slideshare.net/paulyoungcga/what-is-next-for-the-global-economy-january-2022-
251041058

13. Summary
• Both Canada and USA are now pushing policies related to critical metals
• USA continues to look at ways to expand energy exports to EMEA
• Middle East oil imports to USA continue to expand under Biden
• Biden propose corporate tax change may have influence on FDI
Blog – Merchandise Trade, FIPA, and FDI – USA – March 2022
Trade and USA.pdf
Japan and USA
Trade.pdf
Britain targets first
state-by-state U.S. trade deals next month Reuters.pdf
U.S. manufacturing
prices spiked in April ISM data.pdf
Jack M. Mintz Global
corporate tax faces strong headwinds Financial Post.pdf
US trade deficit hits
highest on record as imports soar Deccan Herald.pdf
U.S. Companies Face
Hurdles in Moving Production Closer to Home - WSJ.pdf
US trade deficit hits
highest on record as imports soar.pdf
Summary:
Purchases of furniture and household goods jumped $1.3 billion, while toys, games and sporting
goods rose by a similar amount, the report said.
A strong American consumer is likely to support continued demand for imports, while slower
recoveries among US trading partners could hold down export growth, economists say.
"The prevailing domestic and overseas economic environment could keep the deficit pinned near
record levels and impose a significant headwind to US GDP growth," said Mahir Rasheed of
Oxford Economics.
The Federal Reserve is raising interest rates as it grapples with accelerating inflation, which
could tamp down demand.
In the first three months of the year, the goods and services deficit increased $84.8 billion, or
41.5 percent, from the same period in 2021, the report said.
Source - https://www.rfi.fr/en/us-trade-deficit-hits-highest-on-record-as-imports-soar
Vast Majority
Support China ‘Trade War’ Tariffs – InsideSources.pdf
U.S. oil imports up,
exports down last week EIA The Star.pdf
EU oil embargo to hit
Russia’s oil exports hard – Capital Economics.pdf
U.S. Natural Gas
Prices Hit A 13-Year High On Inventory Concerns OilPrice.com.pdf
USDA ERS - Chart
Detail.pdf
ESG standards’
Indigenous blind spot could threaten critical metals push - MINING.COM.pdf
Enough Raw Metals
to Make 14 Million Electric Cars Globally in 2023 — Study - CleanTechnica.pdf
The U.S. and Canada
must work together to navigate a troubled world Business Council of Canada.pdf
1. Tariffs - https://insidesources.com/vast-majority-support-china-trade-war-tariffs/
2. Oil - https://www.thestar.com.my/news/world/2022/05/05/us-oil-imports-up-exports-down-
last-week-eia
3. Russia oil - https://www.capitaleconomics.com/publications/energy/energy-update/eu-oil-
embargo-to-hit-russias-oil-exports-hard/

14. Other Sources
• If you like to learn
more about trade
and/or other
subjects as part of
your professional
learning and
development, then
feel free to review
my material on
https://www.udem
y.com/ (search Paul
Young CPA CGA