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The will be held on Tuesday, November 8th, 2016  ♦  2016 Presidential Candidates






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TRADE ISSUES


In evaluating the effectiveness of our national trade policy, a look at our trade surpluses, or rather, trade deficits, provides a most telling answer. Our accumulative trade deficit since 1971 stands at approximately $8.53 trillion, including $6.1 trillion in the last ten years alone!

As our legislators and trade officials continue in their struggle to combat these staggering numbers, China has quietly accumulated in excess of two trillion dollars' worth of trade surplus during the same ten-year period.

Over half of the goods and services purchased by Americans originate from outside the United States. In 2011, the total worth of all U.S. imports amounted to $2.66 trillion. Exports during the same period totaled $2.1 trillion, creating a trade deficit of $560 billion dollars - larger than the whole Swedish economy, which is the 21st biggest in the world.

This is not an anomaly, or a one-time blip. While the figure is lower than the $753 billion deficit recorded in pre-recession 2006, it represents a steady growth pattern since the nation first logged a trade deficit in 1971, a relatively tiny $1.3 billion dollars.



There are obviously concerns that the trade deficit would continue to increase. In fact, data for the first five months in 2012 indicates that the nation could very well be facing a record-breaking deficit in excess of $767 billion!

What exactly are we importing, you may rightfully wonder. Well, in a word, everything - green coffee ($6.9 billion), fruits and frozen juices ($11.7 billion), alcohol ($14.8 billion), paper ($6.9 billion), tobacco ($7.8 billion), sewing machines ($1.8 billion), diamonds ($22.3 billion), camping apparel and gear ($8.6 billion), toiletries and cosmetics ($7.9 billion), cookware ($7.5 billion), musical instruments ($1.6 billion), rugs ($1.9 billion), stereo ($6 billion), books ($3.6 billion), photo equipment ($5.3 billion) - the list is endless.

But the top 25 biggest culprits though, are as follows:

No. 25 Fish and shellfish $16.57  billion
No. 24 Measuring instruments $17.51  billion
No. 23 Iron and steel mill products $19.78  billion
No. 22 Generators $20.62  billion
No. 21 Household appliances $20.89  billion
No. 20 Industrial engines $21.36  billion
No. 19 Gem diamonds $22.30  billion
No. 18 Furniture, household goods $23.63  billion
No. 17 Chemicals-organic $25.40  billion
No.16 Medicinal equipment $30.43  billion
No.15 Toys, games, and sporting goods $32.96  billion
No.14 Televisions and video equipment $33.50  billion
No.13 Apparel & textiles (nonwool/cotton) $36.97  billion
No.12 Electric apparatus $38.74  billion
No.11 Semiconductors $40.17  billion
No.10 Industrial machines $45.09  billion
No. 9 Fuel oil $46.88  billion
No. 8 Telco equipment $48.47  billion
No. 7 Apparel (cotton) $50.39  billion
No. 6 Petroleum products $50.92  billion
No. 5 Computer accessories $54.80  billion
No. 4 Computers $64.90  billion
No. 3 Cell phones $80.27  billion
No. 2 Pharmaceutical preparations $91.74  billion
No. 1 Crude oil $331.58  billion


(Source: U.S. Census Bureau, Foreign Trade Division)





 

 



 

 

Declared 2012 Republican Presidential Candidate


Matt Snyder

Presidential Candidate Matt Snyder

Snyder Position on Trade Issues

Snyder understands the importance of international trade, but believes that the economic well-being of the United States must take precedence over global trade.

More on Snyder  



 
Declared 2012 Republican Presidential Candidate
Businessman

Vern Wuensche

Presidential Candidate Vern Wuensche

Wuensche Position on Trade Issues

• Wuensche supports fair and balanced free trade with other countries.

• Wuensche supports immediate free trade with Columbia.

More on Wuensche  



 
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