According to the U.S. Census Bureau, the US has run a persistent trade deficit since 1975.

The size of our deficits vary widely and our major trade partners can change. It wasn’t all that long ago that commentators were convinced Japan would soon control the USA due the size of the deficit.

China has been the dominant partner during much of the past 15 years—with the same concerns voiced. However, we are seeing a shift as the deficits with the European Union, Mexico, and Vietnam have grown while that with China decreases. 

Let’s see who is in the headlines 15 years from now.