US trade deficits with about 90 countries

If the US had a deficit only with China, it could have blamed the yuan's value. But it has trade deficits with about 90 countries, which proves the problem is its own making.

The US has for long been the leader in core areas such as hi-tech and financial services, making huge profits from overseas markets. It, however, has failed to become a low-end production base and thus has to rely on imports of products, even necessities, from countries such as China to meet its domestic demand.