Trade deficit moves to Taiwan and Southeast Asia, Brad Setser notes

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Artem Shendetskii

07.07.2026

Trade deficit moves to Taiwan and Southeast Asia, Brad Setser notes — Trade deficit moves to Taiwan and Mexico

Brad Setser highlights that the trade deficit has shifted toward Taiwan, Thailand, Vietnam, and Mexico.

He points out that these countries are not displayed on the referenced chart but are now significant in the context of the trade deficit.

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Setser has previously noted shifts in major global flows. He pointed out that China’s holdings of U.S. Treasuries at U.S. custodians have dropped to an 18-year low, though official data excludes some offshore assets. In another observation, Setser detailed a sharp drop in German auto exports to China, posing risks to Germany’s GDP.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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