Need help with question 5.

of academic sites (.goy or edu) and provide your own analysis. Steer clear of sites like balance.com/about.com, investopedia.com, amosweb.com, economicshelp.org, etc. Those sites are terrible. Report your source in APA or MLA format. | 1. Go online to the US Census site to find international trade statistics. You can use this link: https://www.census.gov/foreign-trade/statistics/highlights/top/index.html 2. Alternatively you can search for "US Census Foreign Trade Statistics Top 15 trading partners" 3. What are the top 5 trading partners for the US (for imports & for exports). Are there any on the list that surprise you? After accessing the link provided and going to the Top Trading Partners for August 2022 the top five trade partners for imports are China, Mexico, Canada, Japan, and Vietnam. The top five trade partners for exports are Canada, Mexico, China, Japan, and Netherlands. For the Year-to-Date top five imports are China, Mexico, Canada, Japan, and Germany. The year-to-date top five exports are Canada, Mexico, China, Japan, and United Kingdom. The trading partners that are on the list that surprise me is the Netherlands for exports. I was not aware that we export goods to the Netherlands until reading this list. All others I was not surprised. The trading partners that surprised me for the year-to-date was the United Kingdom for the exports. All the others did not surprise me. 4. Using the important verbiage of comparative advantage and absolute advantage, why are these countries the ones that made the list? The US gains an advantage from engaging in commerce with these countries due to the fact that it is able to obtain goods and services at more affordable prices. This also allows the US the advantage of benefiting from the diversity of goods and services. 5. Write a paragraph to summarize your findings and explain why the U.S. wants to trade with those countries. Be sure to apply the concepts of opportunity costs, comparative advantage and absolute advantage