Who’s Most at Risk From U.S. Tariffs? Follow Value Added: Chart

(Bloomberg) -- In an integrated global economy, with supply chains stretching across national borders, the headline export data don’t tell the whole story on who has most to lose from a lurch toward protectionism in the U.S. So to get a more accurate picture, Bloomberg Economics used the OECD’s Trade in Value Added database to see who really has the most exposure. The order doesn’t change radically: On both headline exports, and value-added exports, Canada and Mexico show up as most exposed to U.S. tariffs -- what changes is the degree of exposure, with both nations less vulnerable on a value-added basis.

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