US Trade Tide Moving in the Wrong Direction

Once again, rhetoric from the Obama administration has trumped action. President Barack Obama’s pledge to double exports in five years is off to a rocky start. Tax relief and support for U.S. exporters has failed to materialize. The result is the U.S. trade imbalance continues to grow. The U.S. trade deficit in goods and services increased to $558 billion in 2011 from $500 billion in 2010. That’s up 11.6 percent from 2010 as imports continue to rise much faster than exports. As... Read More