Question

Historically, was the U.S. trade balance positive or negative? Is our current trade balance positive or negative?

Answer 1

The trade deficit refers to the situation where the country imports more goods and than exporting goods hence income will go out of the country to another country.

In the context of the USA foreign trade, the USA has the trade deficit with a country like China, Canada, Japan, Germany. historically the trade deficit of USA has started in 1975 onwards and it is still considered.According to the statistics in 2017 trade deficit is $566 billion.

That's the reasons Present president of the USA imposed the tariff on steel and aluminum goods on the basis of protectionist policy.