It is important to note that, despite the fact that U.S. trade deficit has sometimes been associated with low U.S. products and services competitiveness on global markets, this is most likely not the case. According to some critics, this would lead to decreases in export level, encouraging greater levels for the trade deficit. However, the industrial production has surged in the last decades, as well as the exported services in the global markets (American service providers are important players on the market), so we cannot consider a decrease in competitiveness as a cause for increased U.S. trade deficits.

Without proper financial and macroeconomic policies, we are not likely to see any changes in the U.S. trade account in the near future. Despite a devaluated dollar all throughout 2007 and good parts of 2006, the trade account deficit has remained an important problem of the U.S. administration.

Bibliography

1. Griswold, Daniel. The Causes and Consequences of the U.S. Trade Deficit. Testimonybefore the Senate Finance Committee Washington, DC June 11, 1998. On the Internet...

Elwell Craig. The U.S. Trade Deficit: Causes, Consequences, and Cures. Congressional Research Service " the Library of Congress. August 2004. On the Internet at http://astro.temple.edu/~alistair/CRSTRADEDEFICIT.pdf.Last retrieved on June 29, 2007
3. Blecker, Robert. The Causes of the U.S. Trade Deficit. Trade Deficit Review Commission Washington, DC. August 1999. On the Internet at http://www.american.edu/academic.depts/cas/econ/faculty/blecker/statement%20of%200899.pdf.Last retrieved on June 29, 2007

Griswold, Daniel. The Causes and Consequences of the U.S. Trade Deficit. Testimonybefore the Senate Finance Committee Washington, DC June 11, 1998. On the Internet at http://www.cato.org/testimony/ct-dg061198.html.Last retrieved on June 29, 2007

Elwell Craig. The U.S. Trade Deficit: Causes, Consequences, and Cures. Congressional Research Service " the Library of Congress. August 2004. On the Internet at http://astro.temple.edu/~alistair/CRSTRADEDEFICIT.pdf.Last retrieved on June 29, 2007