How large is the us trade deficit relative to

Question

Research and analyze the US trade deficit. Answer the following questions.

How large is the US trade deficit (relative to GDP)?

How has the trade deficit changed recently? Why?

Do you expect this trend to continue?

Is this trade deficit a bad thing or a good thing, and why?

Describe what would happen if we implemented more trade protection (tariffs, quotas, VERs)

GDP data is available from the Bureau of Economic Analysis:

https://www.bea.gov/national/index.htm#gdp

Note: Your assignment must be in expository essay form, comply with APA style formatting, be 3-7 pages long (not counting cover and references pages), and in MS Word.

Answer 1

Complete the assignment, in detailed essay format in around 5 to 7 pages word document (not including cover and references pages) fulfilling the APA guidelines. Consider the GDP data accessible from the Bureau of Economic Analysis and research and examine the US trade deficit. On the basis of this, answer the given questions. Q1. Explain how large is the US trade deficit (related to GDP)? Q2. Explain how has the trade deficit changed newly? Explain why? Q3. Do you anticipate this trend to continue? Q4. Is this trade shortage a bad thing or a good thing and explain why? Q5. Illustrate what would happen if we implemented more trade protection (that is, tariffs, quotas and VERs).