that have multiple levels of re-import/export situations during manufacturing and then having the finished product land in one country but have sales in other countries. Because of those levels there are countless jobs lost during those various processes not to mention economic losses. That situation is what ultimately has led to severe flaws in the 'free trade' agreements that were made....companies around the world found the loopholes in it and took advantage of them. Clinton, GWB, and Obama all had the law available to them to renegotiate NAFTA and none did........but the loopholes and companies moving out of this country began in the early 1970's without a trade agreement and nobody ever bothered to think far ahead of it to see what the consequences would be for the USA.
In the future, disregard ANY/ALL comparisons of trade deficit numbers between the PRESENT government and PREVIOUS governments.
Because TheRUMP wants to change the methodology....
Trump administration mulls changes to trade deficit calculations: report
U.S. President Donald Trump’s administration is mulling changes to how it calculates U.S. trade deficits in a way that would likely help bolster political arguments to renegotiate key trade deals, the Wall Street Journal reported on Sunday, citing people involved in the discussions.
The main idea being discussed is whether to exclude “re-exports” from the calculation of U.S. exports, sources told the newspaper. Re-exports refer to goods that are imported into the United States, then transferred to another country.
Trump has been highly critical of trade deals including the North American Free Trade Agreement (NAFTA) with Mexico and Canada. By using a metric that widens the trade deficit, it could give him political leverage to make sweeping changes, the paper reported.
Although they complied with the request, the newspaper reported, the staffers explained why they disagreed with the approach.