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Trump's favorite trade measure got worse in the first full month of the trade war
Business Insider ^ | Aug 28, 2018 | Bob Bryan

Posted on 08/29/2018 2:01:42 AM PDT by granada

One of President Donald Trump's main goals in his shake-up of US trade policy: Bring down the large US trade deficit. But that deficit appears to be heading in the opposite direction since the trade war kicked off in earnest.

The US goods trade deficit increased to $72.2 billion in July, up from $67.9 billion in June, according to advance data from the US Census Bureau. Exports fell by 1.7% from the month before, while imports rose by 0.9%. This was the second straight month the trade deficit has increased.

Trump has repeatedly pointed to the large US goods trade deficit with countries like China and Mexico as reason to impose tariffs. Tariffs on Chinese goods, as well retaliatory tariffs against the US from Canada, Mexico, and the European Union, went into effect in July.

The monthly growth also means the year-to-date trade deficit is 7% larger than the same period in 2017.

The trade deficit actually narrowed in the second quarter of 2018, which economists said was in part because exporters were attempting to move their product ahead of the tariffs. Daniel Silver, an economist at JPMorgan, said the latest data appears to show the export growth trend is moving quickly in the opposite direction.

The data is only a preliminary accounting, with more robust data coming next week. And the month-to-month movements of the trade deficit can get noisy particularly given the big changes in recent policy.

But as Trump continues to reshape the global trade landscape, the deficit can give a real-time look at how it is playing out in real time.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy
KEYWORDS: clownshownewsop; deficit; fakenews; trade; trump

1 posted on 08/29/2018 2:01:42 AM PDT by granada
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To: granada

Even more reason to raise tarrifs.


2 posted on 08/29/2018 2:14:26 AM PDT by mindburglar (I like spelling it Lazers. It looks cooler.)
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To: granada

“The trade deficit actually narrowed in the second quarter of 2018, which economists said was in part because exporters were attempting to move their product ahead of the tariffs.”

Duh!


3 posted on 08/29/2018 2:15:15 AM PDT by mad_as_he$$ (If I knew when I was going to need my gun, I wouldn't need my gun.)
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To: granada

Not trying to rationalize here, BUT... Whatever he’s doing is working like a charm, so if there’s a problem with the metrics then I’d be inclined to think we’re measuring it wrong (and maybe have been doing so all along).


4 posted on 08/29/2018 2:25:11 AM PDT by Dr. Pritchett
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To: granada
according to advance data from the US Census Bureau

And we're sure that agency isn't as full of obstructionists and perjurers as all the others in our post Obama/Clinton gov't?

5 posted on 08/29/2018 2:42:11 AM PDT by LibWhacker
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To: granada

One data point without context. Meaningless


6 posted on 08/29/2018 2:54:49 AM PDT by gov_bean_ counter (Ruth Bader Ginsburg doctor is a taxidermist.)
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To: granada

Mark R. Levin
Mark R. Levin
@marklevinshow
·
Aug 25
Leftwing Business Insider cites liberals as experts. Some news operation.Just another clown show.


7 posted on 08/29/2018 3:06:10 AM PDT by conservative98
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To: granada

Comparing month to month is useless. There could be seasonal issues that are the cause I.e. July is a big vacation month so we import more novelty t-shirts to sell in vacation towns that month. The real comparison is year to year, so how does this July compare to last July?


8 posted on 08/29/2018 3:11:43 AM PDT by Velvet_Jones
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To: granada
The US economy is taking off. We are a consumer-based economy, with 70% of the economy tied to consumer spending. We just saw in the last few days that consumer confidence is at its highest in nearly two decades.

We are buying more stuff, most of which is sourced from China. This would explain the jump in trade deficit, no?

But the media will blame the jump on the so-called trade war to continue to try to make PDJT look like a buffoon every chance they get.

C_E
9 posted on 08/29/2018 3:23:56 AM PDT by clueless_expert
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To: granada

Supertankers don’t turn on a dime...


10 posted on 08/29/2018 3:25:22 AM PDT by Moltke (Reasoning with a liberal is like watering a rock in the hope to grow a building.)
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To: granada

Too funny!


11 posted on 08/29/2018 3:58:08 AM PDT by trebb (So many "experts" with so little experience in what they preach....even here...)
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To: Velvet_Jones

trade deficit is 7% larger than the same period in 2017.


12 posted on 08/29/2018 4:15:50 AM PDT by granada
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To: LibWhacker

“And we’re sure that agency isn’t as full of obstructionists and perjurers as all the others in our post Obama/Clinton gov’t?”

A smattering of deluded FReepers take US census data as immutable as manna from heaven. King Obuma himself took the US Census Bureau under his direct control in the White House in 2009 - for purposes of manipulation of numbers and subsequent pay outs - but it does no good to remind those people of that.


13 posted on 08/29/2018 5:37:57 AM PDT by sergeantdave (Teach a man to fish and he'll steal your gear and sell it)
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To: granada

Exports rose 11% year to year.
Imports rose 9% year to year.

The increase is due to growth only. In real terms the deficit is actually shrinking as exports increase faster than imports.


14 posted on 08/30/2018 5:46:19 AM PDT by Velvet_Jones
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