Would the USA be better off if USA trade balances were positive rather than negative?
A Chicago Tribune article titled, What to know about trade deficits, gives a generalized basic explanation of what trade deficits are. Frankly, I do not believe most Americans understand what trade deficits are and what the current fuss in the news applauding or decrying Trump for wanting to balance trade deficits.
The writer asks readers for questions. I am sending this post via email which asks simply for a yes or no answer.
Would the USA be better off if there were no trade deficits and the one half trillion dollars every year benefit the USA economy if the deficits were balanced instead of a deficit?
This question is the subject of this post.
“And Solomon said, Thou hast shewed unto thy servant David my father great mercy, according as he walked before thee in truth, and in righteousness, and in uprightness of heart with thee; and thou hast kept for him this great kindness, that thou hast given him a son to sit on his throne, as it is this day.” (Kings 3:6)
What’s My Point?
When King Solomon prayed for wisdom, he asked for truth. Unfortunately much of what we hear or read in the news are half-truths masked either purposely or otherwise, to promote an agenda, political or otherwise.
It requires a reader to question, to discern, if he or she wants to understand what King Solomon prayed for when he asked his God for Wisdom to lead his people.
I am going to respond to the writer by asking for a yes or no answer only.
Why yes or no? Because if you understand the impact trade deficits have affected the USA over time since the trade agreements, you will know that it is approaching ten trillion dollars.
President Trump keeps repeating the same message that trade deficits negotiated by Clinton and subsequent Presidents, are a bad deal for the USA and he wants fairer agreements.
Because just imagine how many livable wage jobs would have resulted if the 10 trillion dollars was spent in the USA to improve USA deteriorating infrastructures instead of other countries. Other countries like China with advanced transportation, airports, briges, dams, etc. etc, etc, in addition to job creation.
In My Opinion
Balancing trade agreements will result in more fair and equitable circumstance for both trade partners and not harm the party with trade deficits. This is what the WTA, World Trade Association has stated. The USA is still a member of the WTA.
Read the two Source Links below about trade deficits and half-truths.
What is wrong with the President of USA trying to make a better trade deal for the USA?
Do you believe if the ten trillion dollars in accumulated trade deficits since NAFTA was spent in the USA, the result would be both better infrastructure and job creation that occurred?
Which person would you rather have sitting on the throne in Washington DC representing your interest, Clintons or Trump?
Will the writer answer me with a simple yes or no?
Regards and good will blogging.
Trade Deficits 9 Year High