The U.S. high-tech trade deficit is increasing, particularly with China
Here's an interesting snapshot of the decline in U.S. high-tech production and innovation:
The U.S. is running a significant trade deficit in “Advanced Technology Products” (ATP). As the U.S. Census Bureau reports in table 16a of its monthly trade figures, the U.S. racked up an $8.8 billion monthly international trade deficit in advanced technology products in June 2011.
This deficit is climbing rapidly. The total U.S. ATP trade deficit in 2010 was $31.2 billion, whereas in 2011 it has already reached $43.6 billion.
The largest share of America's high-tech trade gap is with China. In June 2011, the U.S. ATP deficit with China reached $9.5 billion.
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