Eco372

International Trade and Finance Speech

ECO/372

International Trade and Finance Speech

Please come to order. I am calling the house to discuss how the United States economy has been dependent on international trade and foreign exchange rates. In recent years, the economy has a surplus of imports from the Asian market and must be reduced to a minimum amount. While our economy is growing weaker because of these imports, foreign economies are growing stronger. A surplus of foreign products increases businesses on a national platform to sell a product that was made her in the U.S.A at a loss. The surplus of imports decrease our GDP and discourages aggregate businesses to thrive. For example, crude oil has been a leading import product for the past three decades and will continue to be according to the census bureau. The house needs to take the depths to help our economy not to be so dependent on this foreign product. We must establish new programs to help to refine our nation’s crude oil to help our economy. Another example, a new Chevrolet Silverado truck sells for 24,000 thousand dollars versus Nissan Titan that sell for 28,000. This type of example creates our USA manufacturer’s to sell at a lower price and fewer sales because of the foreign competitor. There are many examples that we can discuss but the truth is it is affecting more companies in the USA then we even know. Currently the United States trade deficit is 44,448 million as of January 2013. Meaning we are importing more goods than exporting. The international trade does not only affect the trade deficit but also the GDP and domestic markets. As imports increase the GDP and the domestic markets decrease. On the other side of the spectrum, the opposite happens when exports increase and the GDP increases. The international trade also affects university students because if the GDP decreases there will be an increase in tax rates which involve costing more money to attend college.

The government's...