US Trade Deficit Can't Go Down Without Reduction of Imbalance with Europe – Lighthizer
US Trade Deficit Can't Go Down Without Reduction of Imbalance with Europe – Lighthizer
The US trade balance sank into deficit in late 1990s, especially with Asian powers, including China. As of 2018, the American trade deficit stood at $621... 17.12.2019, Sputnik International
But no one wants the US junk or GMO products, they have higher standards, buy Russian.
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Regula
The US is making a big fuss about its trade deficit, which is really the result of outsourcing its manufacturing to Asia and getting very complacent investing in research and development, with the result that Europe, Japan, and soon China, have better products to offer than the US. Now that the deficit is starting to endanger US existence, the US wants to push all nations with which the US has a deficit back into an obligation to spend their income on US products even where, in the case of Europe, the US doesn’t have any products to offer! Which means the US will push agriculture and LNG - neither of which the EU wants or needs. Which shows the real problem afflicting the US in all clarity: it’s products aren’t competitive in developed markets and not terribly desired in developing markets. The deficit has to be overcome with reforming the US economy to reverse it to a civilian economy as the world does not want to fight the US hegemony wars any longer and the US’ efforts to destroy and/or sabotage the Chinese BRI in Central Asia by instigating terrorism in Xinjiang and Tibet and Hong Kong, increasingly fails as China is fully aware of the US intentions and subversive actions. Time forTrump to go learn a bit on how genuine good government works. Deregulation isn’t a solution. It avoids solving the real problem.
The US trade balance sank into deficit in late 1990s, especially with Asian powers, including China. As of 2018, the American trade deficit stood at $621 billion, according to the US Census.
US Trade Representative Robert Lighthizer has set reducing the trade imbalance with Europe as a condition for bringing down the US global trade deficit.
According to the official, the United States has a basic trade problem with Europe, which is why Washington must look for ways to send more goods to the European Union.
The statement comes as UK Prime Minister Boris Johnson and US President Donald Trump agreed to continue the discussion about a new trade agreement between the two countries in the wake of the Tories' victory in the latest British elections.
On Monday, National Economic Council Director Larry Kudlow said that the US is looking forward to a trade deal with Prime Minister Boris Johnson, adding that work towards negotiating such an agreement will start very soon.
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