Research and analyze the US trade deficit. Answer the following questions.

How large is the US trade deficit (relative to GDP)?
How has the trade deficit changed recently? Why?
Do you expect this trend to continue?
Is this trade deficit a bad thing or a good thing, and why?
Describe what would happen if we implemented more trade protection (tariffs, quotas, VERs)
GDP data is available from the Bureau of Economic Analysis:

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