International trade. What is the current U.S. trade balance?

International trade
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International trade
The USA lacks a trade balance with the imports being more than the exports. Subsequently, the country is operating on a trade deficit. The trade deficit is premised on the fact that although the US can manufacture everything it needs, there is a need for materials that can only be imported and other countries can produce the same products at a lower cost. In this context, the cost of labor in the US means that the products will be more expensive, while when these are imported, they are less expensive. This justifies why the imports have remained higher than the exports for a long period. Subsequently, the US needs to maintain a trade deficit to make products more affordable for the people. A trade deficit is more persuasive to ensure that the people maintain their living standards through affordable products. Nevertheless, the trade deficit should be sustained with some countries such as China, which show sustainability of low costs of labor, making the Chinese products affordable. From another perspective, developed...