Comparison should include the definition of trade surplus and trade deficit in terms of the products and services imported and/or exported. Examples should include an analysis of how the United States trades with the following regions:

Europe
Asia
Pacific Rim
North America
Latin America
Africa

Process/Skill Questions:

How does the balance of trade affect world trading partners?
What are the products/services that other countries export to the United States? That the United States exports to other countries?
How do businesses make trade decisions based on a country’s balance of trade?
How does the balance of trade relate to a country’s economic stature?
How could a country improve its balance of trade?
What countries conduct the most trade with the United States?
How have trade agreements with other countries affected the United States’ trade surplus or trade deficit?

Teacher Resource:

TradeStats Express – National and State Trade Data Report Index, International Trade Administration, U.S. Department of Commerce