Trade Deficit: Trade and u.s

trade deficit: Despite the tough rhetoric of the Trump administration in its America First policy, trade issues between the two countries are nowhere near as serious as they were in the 1980s, when trade friction was the main concern in the bilateral relationship, according to The Japan Times. Then, Japan was the source of roughly half of the overall U.S. trade deficit. The U.S. side indicated, however, that Washington hopes the dialogue will pave the way for a bilateral free trade agreement and steps to trim its trade deficit with Japan. Today, it has the second-largest trade surplus with the U.S. but accounts for only 9.4 percent of the total, compared with China's 47 percent. Still, there are some in the U.S. business community and government that persist in blaming Japan for the U.S. trade woes. In direct high-level talks with Japan, the U.S. side reportedly hasn't hurled unilateral accusations on trade matters. (news.financializer.com). As reported in the news.