US Trade Deal with Uruguay 8-8-25

For 2025, the latest available data indicates a negative trade balance for the United States with Uruguay. 

·       In May 2025, the US exported $133 million to Uruguay and imported $180 million from Uruguay, resulting in a trade deficit of $47.4 million for the US.

·       Compared to May 2024, US exports to Uruguay increased by 11.6%, while imports from Uruguay increased by 73.2%.  

This indicates a significant increase in imports from Uruguay to the United States in the first part of 2025, leading to a shift in the trade balance compared to 2024. 

Recent trends and context

In 2024, the US had a goods trade surplus with Uruguay of $420.2 million. This surplus decreased by 58.4% compared to 2023, reflecting increasing imports from Uruguay. 

The main drivers of this recent surge in US imports from Uruguay are:

·       Frozen Bovine Meat: Imports of frozen bovine meat from Uruguay to the US saw a sharp increase of 183% between May 2024 and May 2025.

·       Sulfate Chemical Wood pulp: Imports of sulfate chemical wood pulp also saw a significant increase of 57.6% over the same period.

·       Scented Mixtures: Imports of scented mixtures experienced a substantial rise of 1.49k%. 

Key trade components

·       US Exports to Uruguay (May 2025): Packaged Medicaments ($19M), Telephones ($13.2M), and Perfumes ($10.9M).

·       US Imports from Uruguay (May 2025): Frozen Bovine Meat ($95.3M), Sulfate Chemical Woodpulp ($25.2M), and Scented Mixtures ($11.3M). 

It's important to note that these figures represent May 2025 data, and the overall trade balance and product composition may change throughout the year. However, based on the available information, the US is currently experiencing a trade deficit with Uruguay in 2025, driven largely by increased imports of certain key products from Uruguay. 

https://www.google.com/search?q=us+imports+v+exports+with+uruguay+2025

Uruguay's nominal GDP in 2025 is projected to be $79.73 billion. In 2025, Uruguay's nominal per capita GDP is projected to be $22,690. Uruguay’s Population is 3,384,688. Uruguay's unemployment rate is 7.3% in June 2025. US Tariff on Imports is 10%.

In 2024, the United States had a goods trade surplus with Uruguay, meaning the value of goods exported to Uruguay exceeded the value of goods imported from Uruguay. The U.S. goods trade surplus with Uruguay was $420.2 million, according to the United States Trade Representative. This surplus was a decrease of 58.4% ($590.1 million) compared to 2023, according to the USTR. 

https://www.google.com/search?q=us+trade+deficit+on+import+export+trade+with+uruguay+2024

Comments

The $47.4 million US trade deficit with Uruguay will likely be reduced by discouraging the $95.3 million beef imports to the US.

Norb Leahy, Dunwoody GA Tea Party Leader