I noticed that the USA’s trade deficit is about $860B a year. Moreover, the USA imports 16 million barrels per day at $100/barrels. We consume 21 million barrels per day, by the way. Does this imply that our trade deficits is largely the result of our dependence on foreign oil?
yeppers - if the usa stopped consuming foreign oil, the world would be a different place in every way imaginable.
the deficit is a combo of oil imports and the fact that everything that comes out of walmart is made in china/indonesia/philippines