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Why does the U.S. import goods it can produce domestically?

Why does the U.S. import goods it can produce domestically?

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Answer #1

Explanation:

- Top most reason that United Stated depends on import because of lower production cost. When other country have the lower production cost for particular product it become very efficient and affordable for US to import that product at lower price than what they produce domestically.

- Another reason to import the product for US is to that they want to save their natural resources for future use. Example: Upon having large number of crude oil source US want to import crude oil is because it want save its resources for future use as when price get higher in international market they can use their own resources.

- US importing some of raw material in order to lower their manufacturing cost, if they can lower the manufacturing cost of by importing that material rather than using domestic material which can increase the price of finished product in local market.

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