workers inexpensive 8According to President Donald Trump, the United States cannot compete in global trade because of import tariffs. Ultimately, the president says, the cost at the market is too high for American products. But, is this the only issue for whatever deficit this country might possess as we engage in a trade war of sorts with our closest allies and against one major competitor, China?

According to Tulane economist, Peter Ricchuiti, there are a number of reasons for the inbalance and not just tariffs.  

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