Growing trade deficit is selling the nation out from under us (2003) [pdf]

It seems like the way to "fix" a trade deficit is to create products the rest of the world actually wants to buy. The application of any reciprocal arrangement, whether tariffs or these ICs as proposed in the article only achieves "balance" through punishing others.

Aside from the obvious consumer technology and software I am hard pushed to think of any USA produce I would buy that would meet the standards we have in the EU.

The simple reality is that the USA consumes more than it produces.

> The simple reality is that the USA consumes more than it produces.

Indeed, and the US can afford this because it has concentrated a lot of the world's wealth within its borders. So it is not really clear what they want to fix.