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NC State Ag Economist Dr. Mike Walden – “Is the Trade Deficit Improving?”


Mary:  I’m Mary Walden, with economist MW, welcoming you to the economic perspective.  Today’s program asks if the trade deficit is improving.  Mike, a trade deficit means the US imports more products and services from other countries than the US sells to those countries.   There is much support for reducing this deficit.   Is it happening?

Mike: Summary Answer

  1. Better than ten years ago, but little progress recently
  2. Still, some good news
  3. Trade deficit in oil products has almost disappeared – due to US increased production
  4. Also, exports of US services has doubled in last five years
  5. Big issue is deficit in non-oil good – vehicles, appliances, clothing, etc. – has continued to expand
  6. This is the challenge
  7. I’m MW

Mary:  And I’m Mary Walden for N C State Extension