From: allin
The United States economy exerts significant global influence, acting as a pivotal consumer for worldwide production .
Economic Scale and Consumption
The U.S. economy boasts a Gross Domestic Product (GDP) of 20 trillion , actively purchasing goods from other nations . This makes the U.S. the “world’s consumer” or “world’s customer” .
Global Reliance on the US Economy
Countries worldwide “lean on,” “rely on,” and “can’t live without the oxygen that is our economy” . The principle of “the customer is always right” applies, as if the U.S. does not buy products, other countries cannot produce them . This highlights the global need for the U.S. economy .
Comparison with China
In contrast, China consumes less than $10 trillion and primarily focuses on selling products within its own market, rather than purchasing from other nations .
Implications for Trade Policy
The U.S. position as a major global consumer allows it to consider charging a tariff to countries that rely on its economy .