Global trade benefits all participating nations but a trade deficit is detrimental the nation’s economy.  Warren Buffett wrote of a simple trade proposal that would certainly and significantly decrease USA’s trade deficit of goods.
Refer to www.USA-Imports.Blogspot.com

 

Any decrease of USA’s trade deficit of goods causes as great or greater increase of USA’s production of goods and also some increase of USA’s production of services.  (All of these decreases and increases are real (indexed) amounts reflecting the changing purchasing power of the U.S. dollar).

 

This market driven trade proposal grants government no policy discretion.  (Assessing the value of goods is a technical, is not a policy determination).  The revenue neutral proposal’s self funding and would not deny funds for any other proposal to benefit the USA.  No other proposal could decrease USA’s trade deficit with less government intervention and or increased consumer prices of our imported goods.

 

We can increase both USA’s GDP and median wage and we can also enjoy cheap but not the absolutely cheapest priced imported goods.  Our median wage and per capita GDP is and will continue to be less than otherwise due to the absolutely cheapest imported goods.

 

Respectfully, Supposn