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Write a double-spaced two-page paper on the following topic Explain the impact of the U.S trade deficit on the performance of the U.S economy during the last two decades. Include a reference page....

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Write a double-spaced two-page paper on the following topic
Explain the impact of the U.S trade deficit on the performance of the U.S economy during the last two decades.
Include a reference page. There is no limit on the number of sources used.
The paper must be written in your own words with no plagiarism allowed and your paper should be well structured.
Answered Same DayMar 12, 2021

Solution

Azra S answered on Mar 13 2021
54 Votes
Impact of US trade deficit on the US economy
The Trump administration has given a lot of importance to the US trade deficit claiming that it has a highly detrimental effect on the US economy (Noland 262-278). Economists differ on the effect of trade deficit on an economy. Some believe that trade deficit is not a major issue at all while others concede that trade deficits over prolonged periods can be harmful to the economy.
In principle, trade deficits occur when a country makes more imports than exports. The United States made an estimated export of about $2.500 trillion in both goods and services in 2018. During the same year it imported goods and services worth $3.121 trillion thereby creating a trade deficit amounting to $621 billion.
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ently, the US trade deficit stands at $621 billion which accounts to 3% of the country’s GDP. On an average, there has been a constant deficit of around $535 billion in the last two decades, which was significantly higher than earlier decades. However, it was still less than 2% of GDP. In the 80’s and 90’s US had either...
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