The US increasingly relies on Europe and Japan for advanced production equipment. Photo: Reuters, Jason Redmond

The US trade deficit for advanced “flexible manufacturing” goods with the European Union, Switzerland and Japan was US$4.1 billion last year, double the number for 2003.

With the new US administration hoping to boost domestic manufacturing, they will have to face the reality of the global economy. As the Wall Street Journal writes, made in America starts in with something made somewhere else.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.