Trade Deficits and J-Curve Adjustment Paths. Assume the United States has the following import/export volumes and prices. It undertakes a major "devaluation" of the dollar, say 16 % on average against all major trading partner currencies. What is the pre-devaluation and post-devaluation trade balance? Initial spot exchange rate, $/fc 2.06 Price of exports, dollars ($) 19.1800 Price of imports, foreign currency (fc) 10.5400 Quantity of exports, units 100 Quantity of imports, units 120 Percentage devaluation of the dollar 16.00