United States balance of trade

The balance of trade of the United States moved into substantial deficit from the late 1990s, especially with China and other Asian countries.

Following the Great Depression and World War II, the United Nations Monetary and Financial Conference brought the Bretton Woods currency agreement followed by the economy of the 1950s and 1960s.

[4][5][6][7][8] Some economists note that the trade deficit increases when the U.S. economy grows and Americans are able to buy the goods and services they want from abroad.

[13][14] On June 26, 2009, Jeff Immelt, the CEO of General Electric, called for the U.S. to increase its manufacturing base employment to 20% of the workforce, commenting that the U.S. has outsourced too much in some areas and can no longer rely on the financial sector and consumer spending to drive demand.

[16][17] The overall U.S. trade deficit widened 12.2 percent in 2022 to nearly $1 trillion as Americans bought large volumes of foreign machinery, pharmaceuticals, industrial supplies and car parts, according to new data released by the Commerce Department.

United States trade deficits from 1997 to 2021. Deficits are over 50 billion dollars as of 2021 with the countries shown. Data from the US Census Bureau .
U.S. Trade Balance (1895–2015) and Trade Policies
Deteriorating U.S. net international investment position (NIIP) has caused concern among economists over the effects of outsourcing and high U.S. trade deficits over the long-run. [ 3 ]
Balance of trade with the United States (2023)