{"id":27079,"date":"2024-11-11T20:19:39","date_gmt":"2024-11-11T19:19:39","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=27079"},"modified":"2024-11-11T20:19:39","modified_gmt":"2024-11-11T19:19:39","slug":"us-trade-deficit-a-need-for-nuance","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/us-trade-deficit\/us-trade-deficit-a-need-for-nuance","title":{"rendered":"US Trade Deficit: A Need for Nuance"},"content":{"rendered":"

On the surface, the shocking $1 trillion annual trade deficit in the U.S. suggests that foreign companies completely dominate trade.<\/p>\n

However, a significant part of this deficit actually comes from American companies manufacturing abroad to re-sell in the U.S. market<\/strong>.<\/p>\n

Therefore, a trade war would be far less painful\u2014and partly won\u2014if American workers enjoyed a larger share of these companies\u2019 profits.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

Also, if the incoming Administration really wants more balance in trade, how will it handle sectors like pharmaceuticals where imports soared since 2017?<\/p>\n

 <\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2014and partly won\u2014if American workers enjoyed a…<\/p>\n","protected":false},"author":4,"featured_media":27086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648942739],"tags":[],"class_list":["post-27079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-trade-deficit"],"yoast_head":"\nUS Trade Deficit: A Need for Nuance - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/us-trade-deficit\/us-trade-deficit-a-need-for-nuance\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Trade Deficit: A Need for Nuance - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"On the surface, the shocking $1 trillion annual trade deficit in the U.S. suggests that foreign companies completely dominate trade. 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The United States runs a significant and constant trade deficit, which they manage to finance through the sale of Treasury bonds, bought by China and other governments\/central banks. The deal is as follows and\u2026","rel":"","context":"In "China"","block_context":{"text":"China","link":"https:\/\/michelsanti.fr\/en\/category\/china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/Apple.jpg?fit=1200%2C747&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/Apple.jpg?fit=1200%2C747&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/Apple.jpg?fit=1200%2C747&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/Apple.jpg?fit=1200%2C747&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/Apple.jpg?fit=1200%2C747&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":29910,"url":"https:\/\/michelsanti.fr\/en\/tariffs-2\/no-celebration-for-switzerland-this-august-1st","url_meta":{"origin":27079,"position":3},"title":"No celebration for Switzerland this August 1st","author":"Michel Santi","date":"July 26, 2025","format":false,"excerpt":"Switzerland celebrates its National Day on August 1st, but this year\u2019s festivities will be overshadowed by the imposition of arbitrarily fixed 31% U.S. tariffs\u2014punitive measures that are both harsh and difficult for the Swiss to understand, especially as they have consistently followed the rules of globalization with elegance and restraint.\u2026","rel":"","context":"In "tariffs"","block_context":{"text":"tariffs","link":"https:\/\/michelsanti.fr\/en\/category\/tariffs-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":29152,"url":"https:\/\/michelsanti.fr\/en\/deficit\/deficits-financial-stability","url_meta":{"origin":27079,"position":4},"title":"Hey, Mr. Trump","author":"Michel Santi","date":"May 4, 2025","format":false,"excerpt":"In yesterday\u2019s world, the dominance of the dollar amounted to a Faustian dilemma: the United States could indeed finance itself cheaply, but at the cost of dependence on foreign entities, ultimately leading to its decline. A traditional definition of a reserve currency is that the country issuing it must run\u2026","rel":"","context":"In "deficit"","block_context":{"text":"deficit","link":"https:\/\/michelsanti.fr\/en\/category\/deficit"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Mr.-Trump.jpg?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Mr.-Trump.jpg?fit=1200%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Mr.-Trump.jpg?fit=1200%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Mr.-Trump.jpg?fit=1200%2C600&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/05\/Mr.-Trump.jpg?fit=1200%2C600&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":27858,"url":"https:\/\/michelsanti.fr\/en\/competitiveness\/trump-the-organization-of-chaos","url_meta":{"origin":27079,"position":5},"title":"Trump: The Organization of Chaos","author":"Michel Santi","date":"March 23, 2025","format":false,"excerpt":"Without explicitly stating it, Donald Trump draws a correlation between the undeniable reserve currency status of the dollar and its impact on the industrial competitiveness of the United States. In truth, the facts support his argument, as industrial jobs now account for only 10% of employment in the U.S., compared\u2026","rel":"","context":"In "Competitiveness"","block_context":{"text":"Competitiveness","link":"https:\/\/michelsanti.fr\/en\/category\/competitiveness"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/03\/Trump.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/27079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=27079"}],"version-history":[{"count":2,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/27079\/revisions"}],"predecessor-version":[{"id":27089,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/27079\/revisions\/27089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/27086"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=27079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=27079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=27079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}