0 Members and 1 Guest are viewing this topic.
What trade deficits are you referring to? The traditional measure used basically fixates (I would say fetishizes) trade in tangible property - televisions, commodities, etc - but completely ignores services and investment capital flows. For example, a lot of foreigners come to the US and pay a lot of money to attend US universities. That is just as much a matter of international trade - trading educational services, exporting trained brains, if you will - but those billions don't make it into the traditional balance of trade measures. In fact, the US runs a high trade surplus in education services. Focusing on the balance of trade in industrial goods is antediluvian and yet that is what Trump focuses on. Get real and come into the 21st Century, and the trade deficit Trump whines about goes away.
I run a huge trade deficit with my local grocery store too, it's just so unfair.
Maybe because we've consistently run about a $60 billion per year trade deficit with Mexico, to pick one major partner.