Global Trade

Trade is the engine of economic growth.

Using the various sites that provide trade data (some sources follow), answer the following questions:

1. What is the current trade deficit? ____________________________
2. What is a definition for the term trade deficit?   ____________________________
   __________________________________________________________________
3. For which countries or political groupings did the deficit
1. Increase? ___________________________________________________
2. Decrease? ___________________________________________________
4. What products/services did the U.S. show an increase in exports?
   __________________________________________________________________
5. What products/services did the U.S. show an increase in imports?
   __________________________________________________________________
6. Using February 2008 YTD statistics; who are our top 10 trading partners? Fill in the table below. Identify if trade represents a deficit or surplus.
   

1. What is it that is a significant import category from the following countries (use 2007 Figures):
1. Canada
2. Mexico
3. Saudi Arabia
4. Venezuela
5. Nigeria
2. What are the categories that the U.S. seems to be strongest in trading with the following countries (use 2007 Figures)
1. China
2. Federal Republic of Germany
3. Japan
4. New Zealand
5. Saudi Arabia
3. What are some of the tariffs that exist on U.S. exports?
   
4. What are some of the tariffs that the U.S. imposes on imports?
   
5. What is a value-added tax?
   

Sources:

Foreign Trade Statistics:
http://www.census.gov/foreign-trade/statistics/highlights/index.html

http://www.census.gov/indicator/www/ustrade.html

http://www.census.gov/foreign-trade/statistics/product/enduse/imports/index.html

http://www.census.gov/foreign-trade/statistics/product/enduse/exports/index.html

http://trade.gov/index.asp

http://www.export.gov/logistics/country_tariff_info.asp#P280_13325