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What is Trade Deficit?
Trade Deficit means that a country imports (consumes) a higher value of good and services than it exports (produces). This is comparable to spending more money than you’ve earned.
“We must always take heed that we buy no more from strangers than we sell them, for so should we impoverish ourselves and enrich them.”
- Discourse of the Common Wealth of this Realm of England, 1549
The current U.S Trade Deficit is $42 Billion