AmericanEconomicAlert.org | Fighting for American Companies, Fighting for American Jobs

U.S. Trade Gap Widening in Advanced Technology

By
Wednesday, January 20, 2010

"It warns that a long-time strength of the U.S. economy is fast becoming a major weakness," said Alan Tonelson, a research fellow for the U.S. Business & Industrial Council Educational Foundation, a Washington research organization studying U.S. economic, technology, and national security policy.

U.S. exports of high tech goods dropped by 11.31% in November, from $23.70 billion to $21.01 billion, while imports of those products stood at $29.3 billion.

Another point of concern is that the increase in overall trade deficit came despite a 10.75% drop in the imbalance against China. According to Tonelson, the manufacturing troubles in the U.S. aren't just limited to trade with the Chinese.

Click here to read the article...