Warren Mosler links to a post by Stephen Gordon that reiterates the MMT position on terms of trade.
...trade policy would be much more sensible if our governments stopped confusing what the costs and benefits of international trade really are.The Globe and Mail (Canada)
Imports are a benefit, exports are a cost. Is it clear now?
Stephen Gordon | Professor of Economics at Laval University, Quebec City, and a fellow of the Centre interuniversitaire sur le risque, les politiques économiques et l'emploi (CIRPÉE)