Key Concepts: An Overview of World Trade, An Example of International Trade Equilibrium, Sources of Comparative Advantages

U.S. International Trade Commission

Select one of the listed U.S. trading partners and review its direction of trade in terms of exports and imports with the U.S.

• Identify the current top three trading partners (in terms of trade turnover).
• Survey the "Merchandise Trade Balance" data for the first 20 trading partners. Identify which partner(s) have a positive trade balance with the U.S. (Hint: consider the U.S. trade balance deficit)
• Explain how the international trade flow of selected nations is shaped by their comparative advantage.