On the surface, the shocking $1 trillion annual trade deficit in the U.S. suggests that foreign companies completely dominate trade.
However, a significant part of this deficit actually comes from American companies manufacturing abroad to re-sell in the U.S. market.
Therefore, a trade war would be far less painful—and partly won—if American workers enjoyed a larger share of these companies’ profits.
Also, if the incoming Administration really wants more balance in trade, how will it handle sectors like pharmaceuticals where imports soared since 2017?
Dear readers,
This blog is yours: I maintain it diligently, with both consistency and passion. Thousands of articles and analyses are available to you here, some dating all the way back to 1993!
What were once considered heterodox views on macroeconomics have, over time, become widely accepted and recognized. Regardless, my positions have always been sincere.
As you can imagine — whether you’re discovering this site for the first time or have been reading me for years — the energy and time I dedicate to my research are substantial. This work will remain volunteer-based, and freely accessible to all.
I’ve made this payment platform available, and I encourage you to support my efforts through one-time or recurring donations.
A heartfelt thank you to all those who choose to support my work.