Why Tariffs Aren’t Shrinking the U.S. Trade Deficit Exporting countries are sticking to their economic models, frustrating U.S. hopes that levies can fix imbalances.

“Many of these countries can’t afford to allow their #trade #surpluses to come down, so when the costs to export to the U.S. rise, they have to lower the cost domestically,” said Michael Pettis, nonresident senior fellow at the Carnegie Endowment for International Peace. www.wsj.com/economy/trad...

Crowding Out: The Accounting Error That Rules the World How a fundamental misunderstanding of government deficits fuels austerity and costs lives

"Why the ‘ #CrowdingOut’ story is based on faulty assumptions; how #deficits and #surpluses really work; why banks do not lend from a fixed pool of #savings..."

open.substack.com/pub/mmt101/p...

ISciences Worldwide Water Watch List November 2025 — ISCIENCES Exceptional deficits are forecast for Canada, northeast United States, Central Asia, and the Middle East . Exceptional surpluses are forecast for India, portions of China, and the Philippines.

The latest edition of the ISciences Global Water Monitor & Forecast Watch List it out. Exceptional #deficits are forecast for #Canada, #northeast United States, #CentralAsia, and the #MiddleEast. #Surpluses are forecast for #India, #China, and the #Philippines.
www.isciences.com/blog/2025/11...

Pulse self-sufficiency mission tests fiscal limits | Policy Circle The pulse self-sufficiency mission eyes food security, but climate stress and trade-offs with other crops remain unresolved.

Government-backed #procurement of pulses may secure #farmincomes, but could create #surpluses and weaken private markets. #pulsesmission #pulsesimports
www.policycircle.org/economy/puls...

American visitors to Canada outnumber Canadians heading south, data suggest — The Globe and Mail The numbers for June and July mark a sharp reversal after years of more Canadians travelling to the U.S.

“U.S. President Donald #Trump is obsessed with #trade #deficits. But he may have just wiped out one of the United States’ biggest trade #surpluses with #Canada, in #travel #services” apple.news/AQEVZUNarRtS...

In their obsession with surpluses, #Europeans fail to understand that they have no argument against the American accusation of #mercantilism. You can't just stand up to a powerful partner and say: we want surpluses b/c we've always had #surpluses.

An excellent (short) summary of the negotiations b/w the US and the EU on trade balance. US delegation: We have #deficits, you have #surpluses. We want balanced trade, but what do you want? - chart Heiner Flassbeck
www.relevante-oekonomik.com/2025/08/06/w...

The Accounting Reality: Balance Sheet Proof of MMT's Trade Insights Throughout this series, we've discussed MMT's multi-level approach to international trade, addressed theoretical critiques, and examined the policy implications of this framework.

Let's end the debate with numbers. The #accounting in my latest post demolishes the #myth that trade #surpluses are a magic win. It's a #financial delusion that ignores real resource costs.

Often, excessive #deficits or #surpluses reflect domestic distortions -for instance overly loose fiscal policy in deficit countries, or insufficient safety nets that cause excessive precautionary #savings in surplus economies, notes #IMFNEws www.imf.org/en/Blogs/Art...

MMT on International Trade: A Multi-Level Framework Beyond Mercantilism Editor's Note: This is the first in a five-part series that examines MMT's approach to international trade and addresses Steve Keen's longstanding critique.

You can’t build a credible #critique on contradictions. Keen’s claim that trade #surpluses create money—after agreeing they don’t—shows more about his argument’s fragility than #MMT’s

Reconciling Perspectives: How MMT's Multi-Level Analysis Resolves Trade Paradoxes Our exploration of MMT's approach to international trade has established the multi-level analytical framework and addressed specific theoretical critiques from Steve Keen.

The real myth isn’t #MMT’s analysis—it’s the idea that trade #surpluses are always good. MMT shows why context and real #resources matter most.

Estimating digital product trade through corporate revenue data - Nature Communications This study introduces a method to quantify trade in digital products, like cloud computing and mobile games. It finds that this trade grows rapidly, may impact trade balances, support economic decoupl...

overall "digital exports" are larger than than total exports of France, which is the world's 7th leading exporter. However, these numbers are not typically included in reports about trade #deficits or #surpluses.
www.nature.com/articles/s41...

A truth bomb that no one in politics seems to understand!
#government
#bankrupt
#surpluses
#President #CalvinCoolidge
#RoaringTwenties
#GreatDepression
#GlobalFinancialCrisis.
#Trump#ElonMusk #DOGE
Government surplus → Private debt surge → Speculation → Crash.
Every. Single. Time.
#SteveKeen

ISciences Global Water Monitor and Forecast Watch List - Newsletter Sign-Up — ISCIENCES The ISciences Global Water Monitor and Forecast Watch List provides monthly reports of data collected by our Water Security Indicator Model (WSIM), which monitors and forecasts water anomalies on a gl...

Each month we release the ISciences Global Water Monitor and Forecast Watch List, a monthly report that monitors and forecasts #droughts and #surpluses worldwide. To sign up for the report’s mailing list, please visit this link and complete the form. www.isciences.com/newsletter-s...

Instead, they chose to expand supply, in particular #manufacturing, with an eye on #external demand. The result of such policies is protracted trade #surpluses, which did not help mitigate the consequences of the burst of the bubble. On the contrary, they only fed deflationary pressures.