(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.
To contact the reporters on this story: Fielding Chen (Economist) in Hong Kong at schen609@bloomberg.net;Tom Orlik (Economist) in Beijing at torlik4@bloomberg.net
To contact the editors responsible for this story: Sheldon Reback at sreback@bloomberg.net, Zoe Schneeweiss
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