Trade Policy and International Marketing
(With Charles Skuba)Originally Published by Marketing Management
THE UNITED STATES IS IN a vulnerable position when it comes to international trade. Since 1975, it has been importing more goods than it has been exporting, therefore running a continuous merchandise trade deficit. Even though overall U.S. exports surpassed $1 trillion in 2001, the deficit in the trade of goods was more than $426 billion. Ongoing annual trade deficits of this magnitude are unsustainable in the long run. Such deficits add to the U.S. international debt, which must be serviced through interest payments and eventually perhaps ...
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