Directly, trade creates jobs in the United States by expanding the potential market for U.S. goods and services. To take one leading example, in 2003 the United States exported $ billion in civilian aircraft, parts, and engines, while importing only $ billion, for a trade surplus of $ billion in that category.
This segment was the most integrated one before the financial crisis, and the one most affected by the crisis. The functioning of these markets has become increasingly impaired, especially across national borders. For example, the standard deviation of EURIBOR rates across frontiers within the euro area has moved systematically above the corresponding standard deviation within domestic borders.