U.S. Trade Deficit United States

S. economy, causing job losses that reach into the most technologically advanced industries in the manufacturing sector and affect every state, according to a January 11 press release by the U.S.-China Economic and Security Review Commission” (U.S. Info State Government, 2005). Also, these job losses not only negatively impact the population, but they also affect the business community. With fewer workers and resources, American companies will no longer be able to compete against foreign organizations. “A high percentage of the layoffs are as a direct result of competition from foreign companies. Eventually, as more and more money leaves the U.S., our businesses will be powerless to prevent further such activity” (American Economic Alert, 2008).

References

American Economic Alert, 2008, Trade Ticker – the Up-to-the-Second Counter for the U.S. Trade Deficit, http://www.americaneconomicalert.org/ticker_home.asp, last accessed on February 8, 2008

Bater, J., June 13, 2005, Trade Deficit Widens as Prices Rise for Oil and Other Imports, the Wall Street Journal

Central Intelligence Agency, 2008, the World Factbook – United States, https://www.

cia.gov/library/publications/the-world-factbook/geos/us.html, last accessed on February 8, 2008

Griswold, D.T., 1998, the Causes and Consequences of the U.S. Trade Deficit, the Cato Institute, http://www.cato.org/testimony/ct-dg061198.htmllast accessed on February 8, 2008

Shostak, F., February 2, 2006, Does the Widening U.S. Trade Deficit Pose a Threat to the Economy?, Ludwig von Mises Institute, http://www.mises.org/story/2029last accessed on February 8, 2008

U.S. Census Bureau Foreign Trade Division, 2006

http://www.census.gov/foreign-trade/statistics/historical/gands.txt, last accessed on February 8, 2008

U.S. Info State Government, Study Documents Negative Impact of U.S. Trade Deficit with China, http://usinfo.state.gov/ei/Archive/2005/Jan/12-31762.htmllast accessed on February 8, 2008.

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