SKIP CONTENT RESEARCH EVENTS PUBLICATIONS COMMENTARY SUPPORT CATO BLOG EXPERTS CENTERS FACEBOOK TWITTER SEARCH SITE TRADE POLICY ANALYSIS MALIGNED TRADE DEFICIT DANIEL GRISWOLD AMERICAS ANNUAL ALREADY HISTORICAL REACH RECORD PROTECTIONIST POLITICAL FALLOUT THE TRADE NUMBERS REDUCE BARRIERS TO TRADE THE UNITED STATES CONTRARY POPULAR CAUSED UNFAIR TRADE DECLINING COMPETITIVENESS TRADE DEFICITS THE FLOW OF CAPITAL INTERNATIONAL BORDERS FLOWS DETERMINED NATIONAL RATES SAVINGS RENDERS TOOL NATIONS SURVEY MAJOR TRADING PARTNERS RELATIONSHIP BETWEEN BILATERAL TRADE OPENNESS RUNS BILATERAL SURPLUS RUN DEFICITS CANADA ALMOST TOTALLY OPEN EXPORTS THANKS TO THE NORTH AMERICAN FREE TRADE AGREEMENT NO CONNECTION INDUSTRIAL DECLINE SAME TIME PRODUCTION PERCENT MANUFACTURING OUTPUT DO NOT COST IN FACT RISING FALLING UNEMPLOYMENT DRAG ON ECONOMIC GROWTH ECONOMY ACTUALLY FASTER GOOD NEWS SIGNAL GLOBAL INVESTOR CONFIDENCE PURCHASING POWER DOMESTIC MATTERS THE DIFFERENCE IMPORTS EXTENT AMERICANS FREE BENEFIT OPPORTUNITIES CONSUMER CHOICE WORLD INTRODUCTION POLITICALLY VOLATILE CONSEQUENCES THE FINANCIAL ECONOMIC TURMOIL THE PACIFIC PLUNGING THE REGION MEAN LESS DEMAND FOREIGN CURRENCY VALUES AMERICAN PREDICTED MERCANTILISTS VALUE THE GOODS IMPORT MERCHANDISE APPROACH BREAKING THE RECORD BILLION THE PAST TRADE GAP FUEL ANGUISH IN THE NEWS MEDIA SENTIMENTS THE GOVERNMENT DECLARE BAD NEWS MATTER GOOD ACCOMPANYING REPORTS COMMERCE DEPARTMENT REPORTED LARGEST THE DAY DAN RATHER ANNOUNCED CBS NEWS SAYS WORST NINE LOU DOBBS HOST WE BEGIN TONIGHT REPORT THE NATIONS THE NEXT DAY THE WALL STREET JOURNAL SHAPE UP ASPECT INTERNATIONAL TRADE UNDERSTOOD LESS THAN PERENNIAL CRITICS BELIEVE PRIMA FACIE EVIDENCE COMPANIES COMPETE GLOBAL MARKETS EXPORTERS FACE BARRIERS THE OBVIOUS IMPLICATION WERE TO MARKETS WIDE COMPETITIVE EXPORT THUS THE POPULAR THINKING MICROECONOMICS UNDERLYING MACROECONOMIC INVESTMENT THE NATIONAL DETERMINE RECENT EXPERIENCE CONCLUSION UNDERSTANDING DEBATE CANNOT THE AMERICAN MARKET PERSUADING BULLYING GOVERNMENTS INDUSTRIAL POLICY EXPORT SUBSIDIES BOOSTING NATIONAL COMPETITIVENESS DEFINES THE HEADLINES CURRENT ACCOUNTS CURRENT CONTROVERSIES GOODS AND SERVICES THE REST UNBROKEN STRING COLORED THE LAST BEGINNING THE EARLY REACHED UNPRECEDENTED DECADES POSTWAR FISCAL YEAR REACHING GOODS LAST OFFSET 1980S WORRY FOREIGN TRADE ABILITY GLOBAL MARKETPLACE BLAME WAVE ANGST BOOKS PAUL KENNEDYS THE RISE AND FALL OF THE GREAT POWERS CLYDE TRADING PLACES JAPAN TAKE THE LEAD CAUGHT THE MOOD CAPITOL HILL ANXIETY THE HOUSE MARGIN AMENDMENT RICHARD GEPHARDT IMPOSITION QUOTAS RUNNING THE UNITED WEST GERMANY TARGETS NARROW MARGIN OMNIBUS TRADE SUPER 301 LAW THREATENING RETALIATION ENGAGED ALLEGEDLY TRIED ACTIVATE SECTION 301 SANCTIONS NATION WHOSE TOTAL THE ORIGINAL PROPOSAL NORMALLY BALANCE THE SURPLUS COUNTRYS SCHOLAR HAUNT THE DEBATE THE FALL RENEWAL MEASURE OVERALL HARMS ASSOCIATION AUTHORITY HAMMERED AWAY NAFTA MEXICO DREW FIRE IN SEPTEMBER STEVE ECONOMIST AUTO WORKERS LABOR TESTIFIED SUBCOMMITTEE ON TRADE OF THE HOUSE WAYS AND MEANS COMMITTEE COSTING CONTINUE COMMERCIAL RELATIONS NUMBER CHIEF CHINA APPEARS USED TO ARGUE CHINAS MOST FAVORED NATION STATUS THE WORLD TRADE ORGANIZATION PROBABLY FRICTION TWO COUNTRIES RISES SPUR ROUND GOVERNMENT INTERVENTION CURB THE HEART DEBATES MERCANTILIST CENTURIES THE NEED EXPORTING IMPORTED HOARD ALMOST ALWAYS GOLD TREASURY PRECIOUS METALS TRUE SIGN WEALTH THE MORE MONEY STATE ABLE BE TO WAGE WAR PREDICTABLY OBSESSION POSITIVE BALANCE OF TRADE HIGH TARIFFS OUTRIGHT RULE EUROPEAN NATIONS SMITH HUME ARGUING FOR FREE CLASSICAL LIBERALS DAVID HUME ADAM SMITH ATTACKED STRONG JEALOUSY THE BALANCE REASONED SUPPLY CAPACITY PRODUCE THE OTHER ATTEMPTED TRADE SURPLUS BLOCKING SUBSIDIZING SOON FIND THAT STOCKS RELATION AVAILABLE FOR SALE CAUSE GENERAL RISE THE PRICE PRICES KEPT FALL FLOW ATTEMPT DOOMED FAIL CONTEMPORARY FRIEND WORRIES NOTHING BE MORE DOCTRINE SPECIALIZATION PRODUCTIVITY HIGHER ECONOMIC WEALTH THE FREEDOM NO MATTER FORCED MEANS MONOPOLIES THE COUNTRY FORCE NATURALLY ALWAYS ADVANTAGEOUS CRITIQUE REMAINS VALID DRIVE TRUTH GRASP VIRTUALLY TO DO INVESTMENT FUNDS THE PEOPLE OF SAVE BEGINS ACCOUNTING INTERNATIONAL PAYMENTS WHAT A COUNTRY GLOBAL MARKET MUST EQUAL WHAT IT THE EXCHANGE NATURE WHETHER STREET GENERALLY GIVE UP SOMETHING IN RETURN BOOKKEEPING THE WORLD MATCHED CAPTURE TWO SIDES OF THE CURRENT ACCOUNT THE CAPITAL ACCOUNT THE LEDGER COVERS FOREIGN AID REMITTANCES BORDERS PRIVATE TRADE BALANCE BUYING SELLING ASSETS REAL GOVERNMENT SECURITIES COUNTRY CAPITAL ACCOUNT SURPLUS CURRENT ACCOUNT DEFICIT DOUGLAS IRWIN NECESSARY DIRECT CONNECTION THE ONE HAND RELATIONSHIP CAPTURED SIMPLE SAVES NET FOREIGN INVESTMENT IN OTHER WORDS CAPITAL ACCOUNT DEFICIT THE MONEY SENT RETURN PURCHASE IN EXCESS UNITED CITIZENS INVESTED GROSS NATIONAL SAVINGS FELL SHORT PAID TRANSFER PAYMENTS INCOME FOREIGN INVESTMENTS EQUAL TO THE NET INFLOW FOREIGN CAPITAL TRANSMISSION BELT LINKS THE CAPITAL NET INVESTMENT DOLLARS