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[quote user="PJS1"]But the U.S. has a serious trade imbalance. Last year it was in the neighborhood of $620 billion.[/quote] You shouldn't just check trade but take services and returned profit into account. I mean profits made by American companies abroad and sent home. If you consider these, trade and services are balanced between USA and EU according to American statistics. A trade impalance is seldom the fault of the other country alone. It helps to look at the own shortcomings. When wages increase faster than labor productivity competetivness gets lost over time. Companies start looking for cheaper labor. From union states to non-union states (GE and EMD locomotives) or to low wage countries (model railroading industry) Regards, Volker
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