A Disturbing New Deficit

The U.S. imports more high-tech goods than it sells abroad

Americans are all too familiar with the damage caused to U.S. industries by Japanese cars, Brazilian shoes, Chinese textiles and other consumer imports. Now a new report released by the Joint Economic Committee of Congress shows that America's proud high-tech companies, which accounted for 43% of all U.S. exports as recently as 1984, are facing a similar fate. According to the study, the U.S. trade surplus for such advanced products as computers, communications equipment and scientific instruments has plummeted from $27 billion in 1980 to just $4 billion last year. The study, titled "The U.S. Trade Position in High Technology: 1980-1986,"...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!