Prices have become relatively stable, by historical standards, in the United States and its trading partners, however, and, it is not clear how much of a dent this could put in the trade deficit. A second possibility is that an increase of foreign growth above U.S. growth could boost our exports.
Between 1970 and 1995, foreign GDP growth, weighted by U.S. trade, exceeded U.S. growth by nearly 2/3 percentage point annually; since then, U.S. growth has exceeded foreign growth by 1/4 percentage point. Thus, there is some potential for foreign growth to rise relative to U.S. growth.