Trade Balance Impact: How Exports and Imports Shape GDP
Student Worksheet
A single smartphone assembled in the United States might carry chips from Taiwan, a display from South Korea, and software from India, so a slowdown in one country ripples through every other country's trade balance. By 2020 that interdependence collided with the pandemic, U.S. real GDP contracted about 3.4 percent, and multinational firms had already begun moving supply chains toward Southeast Asia to dodge the tariffs.
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