Question

One current foreign policy issue is the fact that the United States imports more goods than it exports, which has resulted in a ________________.

Answer 1

One current foreign policy issue is the fact that the United States imports more goods than it exports, which has resulted in a trade imbalance. Imports and exports must be balanced in a trading country.

Import is an activity of transporting goods or commodities from one country to another. The import process is generally an activity of bringing goods or commodities from other countries into the country. Bulk imports of goods generally require intervention from customs in the sending and receiving countries. In a way, import is the opposite of export activity which is the activity of transporting goods or commodities sent abroad.

Import activities have several objectives, the following are the objectives of import activities:

• Reducing the release of foreign exchange abroad.
• Strengthening the balance of payments position.
• Meet domestic needs.

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