Weaknesses in the United States' trade balance in goods have persisted, with the merchandise trade deficit rising to 262.4billioninthethirdquarterof2023,comparedto 262.4 billion in the third quarter of 2023, compared to \,262.4billioninthethirdquarterof2023,comparedto241.8 billion in the same quarter of 2022.
Explain three reasons why a highly developed, service-oriented economy, such as the US, might experience a persistent deficit in its balance of trade in goods.
