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Unformatted text preview: US on Volume basis, is world's largest trading nation US balance of trade = US exports - US imports US balance of trade > 0, net exporter US balance of trade < 0, net importer Trade Goods and Services, US Goods -- about 2/3 of US international trade Net Exporter of grains, chemicals, aircraft Net importer of machinery, fuels Services Exports Imports Transportation from US residents to fly abroad X French buy US tickets X Meals, hotels, in other countries X Meals, hotels bought by foreigners in US X Goo ds US Wouldn't have Without Importing Bananas Cocoa, spices coffee, tea raw silk nickel, tin natural rubber diamonds...
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- Spring '99