WSJ: Apple’s iPhone Aggravates U.S. Trade Gap

Interesting piece in the “B” (Marketplace) section of today’s Wall Street Journal, by Andrew Batson: The entire $179 estimated wholesale shipping price ofApple’s (AAPL) iPhone is counted as a Chinese export to the U.S. in official trade statistics, not as a U.S. export to the rest of the world.
Because the device goes through final assembly and is shipped from China, even though it goes through a supply chain that covers many Asian countries, its status in official trade statistics does not reflect that the device is designed and owned by Apple, Battson writes. A headache for the U.S., then: how to narrow the trade gap in a world increasingly dominated by foreign assembly?
Article via  Barrons