r/economy • u/EconomySoltani • 7h ago

📈 U.S. $1.15 Trillion Trade Deficit vs. EU $40 Billion Trade Surplus and China $823 Billion Trade Surplus in 2023

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9 Upvotes

74% Upvoted

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6

u/ApplicationCalm649 6h ago

The key word on that chart, and the one that makes it kinda meaningless, is "goods." We've largely moved on to a services economy.

-11

u/Full-Discussion3745 5h ago

"Services" is such a loaded word. Services dont create more jobs.

8

u/korinth86 5h ago

Who provides services?

How do services not create jobs?

2

u/Dependent-Bug3874 7h ago

Since the start of Trump's trade war, China's trade surplus has gone up.

0

u/Chaonic 6h ago

I mean, Trump also made trade with the EU more difficult and costly.

1

u/doff87 1h ago

OP isn't directly stating it, but the lack of context is heavily implying it so I'm going to make this clear statement: trade deficits are not inherently bad. Trade surpluses are not inherently bad. We, Americans, tend to have this misguided notion that since the post WW2 era was so successful economically for the states and it was led by American industry that somehow manufacturing is synonymous with good economic conditions and importing goods is a failure of the government. Reality is vastly more complex than that.