Does the Record Trade Deficit Threaten the U.S. Economy?

Capitol Hill Briefing
March 21, 2007 12:00PM
B-339 Rayburn House Office Building
Featuring Dan Griswold, Director of the Center for Trade Policy Studies, Cato Institute.
America’s current account deficit reached a record $857 billion in 2006, including an $836 billion trade defect in goods. Critics of free trade argue that the deficit threatens U.S. jobs and manufacturing and that it only confirms the failure of U.S. trade policy. Daniel Griswold, director of the Cato Institute’s Center for Trade Policy Studies, will explain why so much of the conventional wisdom about the trade deficit is wrong. Griswold will highlight the results of his March 12 study, “Are Trade Deficits a Drag on U.S. Economic Growth?”