Services Trade Surplus, the American Dream Not-Come-True, Falls to 9-Year Low, Total Trade Deficit Explodes to Worst Ever

U.S. dollar is cheaper compared to major currencies from its most important foreign buyer markets. 

Over the last 12 months, it has fallen more than 16% compared to the Mexican peso, nearly 16% compared to the Australian dollar, roughly 12% versus the Canadian dollar, and 9% compared to the Euro, British pound and Chinese yuan

https://www.mansionglobal.com/articles/a-weak-dollar-will-help-foreigners-snatch-up-u-s-property-more-cheaply-but-there-is-more-to-a-good-deal-than-currency-227206

Back when globalization by Corporate America was still a good thing, anxieties about the ballooning trade deficit in goods were medicated away with promises that exports of services – such as software, movies, and Wall Street efforts to financialize everything – would boom and balance out the trade. 

We’d buy cheap goods made in other countries, and they’d buy our expensive services, and it would all balance out. That was the rationale. 

Few economic rationales have failed more spectacularly.

Wolf Richter 4 May 2021

https://wolfstreet.com/2021/05/04/it-just-keeps-getting-worse-services-trade-surplus-the-american-dream-not-come-true-falls-to-9-year-low-total-trade-deficit-explodes-to-worst-ever/