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International Trade and Finance Speech Essay

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International Trade and Finance Speech
Kellie Carroll
ECO 372
July 13, 2012

International Trade and Finance Speech
I am here today to talk to you all about the current state of the United States macroeconomy. Hopefully when I am done you will have a better understanding of our current state. I will also be explaining the international trade and foreign exchange rates.
When it comes to the surplus of imports that are brought into the United States, there are good things and bad things. According to the Bureau of Economic Analysis (2010), the U.S surplus went from $66.7 billion in 2003 to $168 billion in 2010. One thing that does happen is the price will drop extremely. The reason is everyone is competing for the imports. They have so much in storage and they can’t get rid of it so they lower the price to sell it out.
Looking at the effects of international trade to different things like GDP, domestic markets and university students we have to look at our net exports. If our net exports are in the positive then our GDP will increase, but if they are negative then the GDP will actually decrease. When our GDP decreases then we see tax rates go up which affect not only our university students but also our domestic markets. This obviously hurts if people are looking at going back to school or even just attending for the first time since the cost for education is so much higher.
Our government gets revenue from our tariffs. By raising or lowering our tariffs we stay in control of trade with these other countries. This in itself would cause some retaliation when it comes to these other countries. This could also cause a huge decline in the economy.
When we are talking about the foreign exchange rates and how they are determined we are basically talking about the currency rates. This is actually the amount that foreign countries will exchange. So we are talking one currency in relation to another currency. This is all determined by the free market...

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