Growing Gap

The 8/20 US trade deficit hit $67 billion. After inflation, the deficit hasn’t been this high since 2008. Imports have largely recovered but not exports. This is because the US imports goods but primarily exports services, and visits by tens of millions of foreigners to US for vacation and hundreds of thousands for higher education are not happening. Similarly, Hollywood movies aren’t being screened and thus royalties aren’t being paid.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.