Bilateral Trade

This requires a one on one negotiation that explores how the country who imports more than it exports can close the deficit gap. This also requires that you have actual buyers and sellers in each country who want access to the other countries’ goods. 

The obvious target for the US is to expand the sale of natural gas and oil, because those countries we have a trade deficit with do import gas and oil from somewhere.  This is a “zero-sum” game.  If we can get them to buy oil and gas from the US and lower our trade deficit, it might be easy to increase imports of other commodities they may have in surplus.

Our trade deficit with China is $375 billion

Our trade deficit with Mexico is $71 billion

Our trade deficit with Japan is $69 billion

Our trade deficit with Germany is $65 billion

Our trade deficit with Canada is $18 billion

The US is already exporting Liquid Natural Gas and will soon increase US production of oil by another 10,000 bbd making it Oil Independent. The US can begin to reduce its trade deficits by selling natural gas to China, Mexico and Japan and later selling oil to these same countries. Sales of LNG and oil are possible in Germany and elsewhere, but Canada should be able to supply its own oil and gas.

Norb Leahy, Dunwoody GA Tea Party Leader