From the 1940s to1960s, the US had trade surpluses and did most of its own manufacturing in the US. By the 1970s, large US manufacturing companies began to locate final assembly plants overseas to European countries who required it. In the 1980s, it was clear that Japanese autos were superior and Honda and Toyota began to take market share. Their cars got better mileage and were highly reliable and better made. In the 1990s, more manufacturing was off-shored to China and Asia. Japan established manufacturing plants in the US. South Korea weighed in with KIA and Hundi. Steel manufacturing had moved overseas and Chemicals followed. US companies went overseas to save the cost of US regulations, rid themselves of labor unions and lowered their labor costs to keep prices competitive. In 2005, we sold our Cadillacs and bought 2 Toyota Prius Hybrids and we still drive them.
Lowering our trade deficits requires that we
return US manufacturing to the US.
Year
US $Trade Deficit
2024
$-1.0905980T estimate
2023 $-1.0364490T
2022 $-1.1773729T
2021 $-1.0710531T Biden
2020 $-901.4898B
2019 $-845.7592B
2018 $-870.3584B
2017 $-792,3959B
2016 $-735.3260B
Trump
2015 $-745.0830B
2014 $-735.4823B
2013 $-689.4699B
2012 $-7304663B
2011 $-725.4470B
2010 $-635.3650B
2009 $-503.5830B
Obama
2008 $-816.2000B
2007 $-808.7650B
2006 $-827.9700B
2005 $-772.3742B
2004 $-654.82085B
2003 $-532.3500B
2002 $-468.2620B
2001 $-411.8990B
2000 $-436.7030B
GW Bush
1999 $-328.8200B
1998 $-229.7590B
1997 $-180.5220B
1996 $-170.2130B
1995 $-158.8010B
1994 $-150.6270B
1993 $-115.5680B
Clinton & NAFTA
1992 $-84.5009B
1991 $-66.2498B
1990 $-101.0295B
1989 $-109.3391B
GHW Bush
https://www.census.gov/foreign-trade/balance/c0004.html
Most of our current $1 trillion plus deficits go to China for Wind and Solar and everything else, but that will stop if Trump is elected in 2024. Wind and Solar are too expensive to construct, repair, and replace. The US needs more natural gas power plants to increase capacity on our electric grid. Our railroads need to stop hauling hazardous waste and need to fix their 200 year old tracks and bridges. Local TV news routinely reports the daily traffic accident report that always includes an overturned 18 wheeler. Trucks need their own highway system.
Norb Leahy, Dunwoody GA Tea
Party Leader
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