What have been the major causes of the large U.S. trade deficits since 1999? What are the major benefifits and costs associated with trade defifi cits? Explain: “A trade deficit means that a nation is receiving more goods and services from abroad than it is sending abroad.” How can that be called “unfavorable”?

What have been the major causes of the large U.S. trade deficits since 1999? What are the major benefifits and costs associated with trade defifi cits? Explain: “A trade deficit means that a nation is receiving more goods and services from abroad than it is sending abroad.” How can that be called “unfavorable”?