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The United States trade deficit first became a problem in the 1970s because

Ramon Kelly

in Geography

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Victoria Fowler on October 15, 2018

Since the 1970s, the united states moved from a trade surplus to a deficit position, as Europe and Japan began to compete effectively with the united states in a wide range of industries. There are many ways in which trade has injured U.S. workers since then. In the first place, the deterioration in the trade balance (difference between exports, which create jobs, and imports, which eliminate domestic employment) has reduced employment, especially in manufacturing and other industries producing traded goods

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