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How to reduce the US manufacturing trade deficit

Government aid should aim at developing technologies that will build globally competitive domestic industries

by Henry Kressel April 12, 2022April 13, 2022

The garment industry isn't returning to the US from places like Bangladesh, above, Cambodia and China. Photo: WikiCommons

The US trade deficit in manufactured products has been growing for many years as production moved out of the country. In the 2009 period, the 12-month moving average of the monthly deficit was about US$40 billion.

It has increased markedly during the past several years. In October 2021, that average reached about $90 billion – a sharp 50% increase from about $60 billion in February 2020.