what are the major imports of the united states?
Pharmaceutical Preparations Automobile Petroleum Clothing Furniture
entailment
 Beginning in 1994 , the U.S. entered into the North American Free Trade Agreement ( NAFTA ) , linking 450 million people producing $ 17 trillion worth of goods and services . The goal of the agreement was to eliminate trade and investment barriers among the U.S. , Canada , and Mexico by January 1 , 2008 ; trade among the partners has soared since the agreement went into force . 

entailment
 The United States is the largest importer of goods and second largest exporter , though exports per capita are relatively low . In 2010 , the total U.S. trade deficit was $ 635 billion . Canada , China , Mexico , Japan , and Germany are its top trading partners . In 2010 , oil was the largest import commodity , while transportation equipment was the country 's largest export . Japan is the largest foreign holder of U.S. public debt . The largest holder of the U.S. debt are American entities , including federal government accounts and the Federal Reserve , who hold the majority of the debt . 

entailment
 The U.S. , potentially the largest market for Brazilian ethanol imports , currently imposes a tariff on Brazilian ethanol of US $ 0 @.@ 54 per gallon in order to encourage domestic ethanol production and protect the budding ethanol industry in the United States . Historically , this tariff was intended to offset the 45 cent per gallon blender 's federal tax credit that is applied to ethanol no matter its country of origin . Exports of Brazilian ethanol to the U.S. reached a total of US $ 1 billion in 2006 , an increase of 1 @,@ 020 % over 2005 ( US $ 98 millions ) , but fell significantly in 2007 due to sharp increases in American ethanol production from corn . As shown in the table , the United States remains the largest single importer of Brazilian ethanol exports , though collectively the European Union and the CBI countries now import a similar amount . 

neutral
 The United States has a capitalist mixed economy which is fueled by abundant natural resources and high productivity . According to the International Monetary Fund , the U.S. GDP of $ 16 @.@ 8 trillion constitutes 24 % of the gross world product at market exchange rates and over 19 % of the gross world product at purchasing power parity ( PPP ) . 

entailment
 The treaty has since been defended as well as criticized further . The American economy has grown 54 % since the adoption of NAFTA in 1993 , with 25 million new jobs created ; this was seen by some as evidence of NAFTA being beneficial to the United States . With talk in early 2008 regarding a possible American withdrawal from the treaty , Carlos M. Gutierrez , current United States Secretary of Commerce , writes , " Quitting NAFTA would send economic shock waves throughout the world , and the damage would start here at home . " But John J. Sweeney , President of the AFL @-@ CIO , wrote in The Boston Globe that " the U.S. trade deficit with Canada and Mexico ballooned to 12 times its pre @-@ NAFTA size , reaching $ 111 billion in 2004 . " 
