
Source: BEA
Today is the first day of the G-20 summit in Pittsburgh. Because the G-20 nations represent 80 percent of world trade, it makes sense to look at America’s position within it. The above chart shows our trade balances with respect to the G-20 nations. Specific numbers are below.

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On Monday, The International Trade Commission (ITC) unanimously voted to recommend that President Obama impose tariffs on the import of Chinese tires for three years. The new administration will have until September 17 to decide what, if any, relief to provide based on the ITC’s recommendation. 