Balance of trade(redirected from Trade deficits)
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Related to Trade deficits: Trade surplus
BALANCE OF TRADE, Com. law. The difference between the exports and importations, between two countries. The balance of trade is against that country which has imported more than it has exported, for which it is debtor to the other country.
A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.