trade imbalances

1. What would you suggest we do to reduce our trade deficit?
2. We run huge trade imbalances with two countries. Explain the cause of the imbalances.
3. Should we be worried about our trade deficit? Explain why or why not.
4. What is the economist’s case for free trade?
5. Practical Application: Can you think of any valid reason for tariff protection? Try to make a case for it.