Nanoscale science, engineering, and technology-commonly referred to collectively as nanotechnology-is believed by many to offer extraordinary economic and societal benefits. Congress has demonstrated continuing support for nanotechnology and has directed its attention primarily to three topics that may affect the realization of this hoped for potential: federal research and development (R&D) in nanotechnology; U.S. competitiveness; and environmental, health, and safety (EHS) concerns. This report provides an overview of these topics-which are discussed in more detail in other CRS reports-and two others: nanomanufacturing and public understanding of and attitudes toward nanotechnology.

This report provides an estimate of the initial impact of the changing oil prices on the nation's merchandise trade deficit.