The graph above shows FRED data on U.S. exports and imports of advanced technology products, which include the categories of advanced materials, aerospace, biotechnology, electronics, flexible manufacturing, information and communications technology, life sciences, optoelectronics, nuclear technology, and weapons. The trade balance’s tepid response is likely because of other changes to trade conditions, such as tariffs and regulations. The persistence of the U.S. trade deficit is also noteworthy. Throughout the 22-year span covered in our sample period, the U.S. continuously ran a trade deficit despite the large variation present in the exchange rate. Breaking Down the U.S. Trade Balance. Tuesday, May 28, 2019. As an economy evolves and develops, it moves among three stages: In the first stage, the economy relies mainly on producing agricultural goods. In the second stage, it shifts away from agricultural goods to manufacturing goods.