The economy has been a hot topic as of late. This week is no different. With holiday shopping and politics rolling, every week brings something new. As a nonprofit credit counseling agency, ACCC wants to help you stay updated. Check out the latest trade news to help manage your money and investments.
Trade News Articles from the Week
This time of year can be very busy. Between travelling, end of year deadlines and shopping trips, the days somehow fly faster than ever. However, you can probably still find time to read a few news articles. For this Weekly Round-Up, we have focused on trade news and the economy.
- “US trade deficit drops in October to lowest level in more than a year” by CNBC
- “U.S., China Move Closer to Trade Deal Despite Harsh Rhetoric” by Bloomberg
- “Why Amazon losing Nike highlights a major risk: Analysis from USA Today”
- “Gazing into the recession crystal ball” by Reuters
What Is a Trade Deficit?
I definitely didn’t truly understand what a trade deficit was when I came across some of the news from the week. Therefore, I did some research on Investopedia (remember, our credit counseling advice is to always keep going on your journey of financial literacy!).
Here are a few key points:
- A trade deficit is an economic measure of international trade in which a country’s imports exceed its exports.
- It represents an outflow of domestic currency to foreign markets. It is also referred to as a negative balance of trade.
- A trade deficit is not always a bad thing.
- Changes and innovations can be made or encouraged to reduce the deficit and help the economy grow stronger.
Trade and the economy can be very daunting topics. However, a little research can make a big difference towards understanding them.
If you struggle to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.