Innovation Policy of USA and its Impact on Balance of Trade

The diploma thesis describes innovation environment of United States of America and the influence of US innovation policy on its foreign trade. The analysis and comparison of qualitative and quantitative data were mainly used from secondary sources of American Census Bureau and innovation programs of individual Departments and federal agencies for purposes of this diploma thesis. United States of America is still seen as one of the most competitive and powerful world nations. Long term negative balance of trade in goods and increasing import of technology products in the first place are weakening the USA position as world innovation leader. Research and development activities are becoming more globalised in the last decade and USA have to deal with strong influence from emerging economies, mainly from Asian region. Current innovation policy agenda attempts to support broad development of innovation and technology, not only particular fields of interest. Obama's administration intensively focuses on key areas for maintaining the country's competitiveness considering current financial crisis and increasing role of other world economies. These key areas are however not in line with commodities, which mainly represents negative figures of country's balance of trade. In this respect, the innovation policy of United States rather falls behind.