Question

In a recent year, the US exported $26.6 billion in goods to France. It imported $34.0 billion in goods from France. In that year the US had a ___ with France

Answer 1

In the given year, the US had a trade deficit with France because it imported more goods from France ($34.0 billion) than it exported to France ($26.6 billion).

Step-by-step explanation:

The student's question pertains to the balance of trade between the United States and France. Given the figures provided, where the US exported $26.6 billion in goods to France and imported $34.0 billion from France, the US experienced a trade deficit with France in that year. A trade deficit occurs when a country’s imports exceed its exports.

Comparatively, Germany often experiences a trade surplus, which is the opposite condition, where exports exceed imports. This is evident from Germany's history of substantial trade surpluses, such as the $242 billion surplus in 2020, as reported by the World Bank. The US, on the other hand, has had a different experience, often facing large trade deficits—as seen in 2020, when U.S. imports exceeded exports by $651 billion.