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Keyword: tradedeficit

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  • U.S. trade deficit soars 12% in March as coronavirus slams exporters and tourism

    05/06/2020 7:22:42 AM PDT · by fluorescence · 1 replies
    MarketWatch ^ | May 5, 2020 | Jeffrey Bartash
    The U.S. trade deficit widened by almost 12% in March as the coronavirus pandemic grounded international flights, froze the global tourism industry and caused massive disruptions in the exchange of goods such as new cars and iPhones. Imports fell 6.2%, but U.S. exports tumbled an even deeper 9.6% to cause the trade gap to rise. It’s the biggest monthly decline in exports ever recorded. The U.S. deficit rose to $44.4 billion in March from $39.8 billion in February, the government said Tuesday. Economists polled by MarketWatch had forecast a $44.2 billion shortfall. Exports fell to $187.7 billion in March from...
  • US has Run Up $5.5 Trillion in Trade Deficits With China

    04/29/2020 11:07:22 AM PDT · by Kaslin · 33 replies ^ | April 29, 2020 | Terry Jeffrey
    Since 1985, the first year for which the Census Bureau has posted this nation's bilateral merchandise trade deficits on its website, the United States has accumulated $5.5 trillion in trade deficits with China. No other nation comes close. In 2019, America's seven top trading partners -- when measured by the total dollar value of the bilateral trade in goods -- were Mexico ($614.5 billion), Canada ($612.4 billion), China ($558.9 billion), Japan ($218.3 billion), Germany ($187.8 billion), South Korea ($134.4 billion) and the United Kingdom ($132.3 billion). By far, however, the least balanced relationship -- both last year and in recent...
  • Opinion: The ABCs of trade: If it can’t be made in America, it should be made Anywhere But China

    02/16/2020 6:22:45 PM PST · by BeauBo · 35 replies
    MSN ^ | 14 Fab 2020 | Zach Mottl
    The annual 2019 trade figures for the United States came out last week, heralding some encouraging news. America’s enormous international trade deficit actually declined slightly from 2018. This was the first decrease in six years, with the deficit in goods and services dropping 1.7%, to $616.8 billion. Better yet, America’s bilateral trade deficit with China fell for the first time in four years, dropping a hefty 17.6%, to $345.6 billion. These are promising numbers and they show that tariffs on Chinese products are successfully moving the needle on U.S. trade flows. In fact, America’s 2019 imports from China actually fell...
  • U.S. trade deficit sinks 8% to 3-year low of $43.1 billion in November amid China trade war

    01/07/2020 10:05:40 AM PST · by SeekAndFind · 5 replies
    Marketwatch ^ | 01/07/2020 | Jeffry Bartash
    The numbers: The trade deficit fell sharply in November for the second month in a row and sank to the lowest level in three years, reflecting a decline in Chinese imports and the reemergence of the U.S. as an energy superpower. The trade gap dropped 8.2% to $43.1 billion in November, the government said Tuesday, basically matching the MarketWatch forecast. It’s the smallest deficit since October 2016.Most of the decline recently has been tied to a shrinking deficit with China, whose imports have fallen in the face off stiff U.S. tariffs. Surging U.S. oil exports were another contributor.If the gap...
  • US trade gap fell 2.7% in July including the gap with China

    09/04/2019 7:54:28 AM PDT · by Olog-hai · 2 replies
    Associated Press ^ | September 4, 2019 | Josh Boak
    The U.S. trade deficit declined in July, including the gap with China that has been the focus of President Donald Trump’s tariffs. The Commerce Department said Wednesday that the gap between the goods and services the U.S. buys and what it sells abroad fell 2.7% to $54 billion in July from June. Exports rose 0.6% to $207.4 billion, while imports ticked down 0.1% to $261.4 billion. Compared to a year ago, the average trade gap has increased $7 billion. Trade has become a sensitive topic for the global economy as the United States has escalated a tariff war with China....
  • Trump threatens China with tariffs on another $300B of goods

    06/06/2019 8:15:48 AM PDT · by SeekAndFind · 5 replies
    Fox News ^ | 06/06/2019 | Katherine Lam
    President Trump on Thursday threatened China Opens a New Window. with possible tariffs on “at least” another $300 billion worth of goods, escalating tensions in the trade war Opens a New Window. between the two countries as negotiations drag on. Trump, before heading to France for D-Day commemorations, told reporters that “a lot of interesting things are happening” during talks with China, but did not provide further details. The countries have been stuck at a trade standoff which escalated last month when Trump increased tariffs on $200 billion worth of Chinese imports to 25 percent. “Our talks with China, a...
  • Economy “Unexpectedly” Grew at 3.2% Clip in First Quarter Boosted by SHRINKING TRADE GAP

    04/26/2019 8:18:58 AM PDT · by xzins · 63 replies
    The Gateway Pundit ^ | 26 Apr 19 | Jim Hoft
    The US economy surged “unexpectedly” in the first quarter of 2019 to 3.2% growth. Economists predicted a 2.5% growth. Jack Posobiec ✝️ ✔ @JackPosobiec 🔥 Piers Morgan ✔ @piersmorgan BREAKING: US first-quarter GDP rockets by 3.2%, vs 2.5% expected growth. Brace yourselves Trump-haters, if the economy keeps doing so well, President @realDonaldTrump will be almost unstoppable in 2020. 277 9:11 AM - Apr 26, 2019 Twitter Ads info and privacy 113 people are talking about this This won’t make many headlines… The US economy was boosted by a SHRINKING trade gap. Via the Wall Street Journal.
  • US trade deficit falls in February as shortfall with China decreases 28%

    04/18/2019 7:21:04 AM PDT · by SeekAndFind · 23 replies
    CNBC ^ | 04/18/2019 | Jeff Cox
    The U.S. goods and services deficit with its global trading partners fell to $49.4 billion in February, its lowest level since June 2018 and well below estimates, the Commerce Department reported Wednesday. Economists surveyed by Dow Jones expected the U.S. trade deficit in February to increase to $53.8 billion from $51.1 billion in January. The decline was due in large part to a 28.2 percent decrease in its goods deficit with China as exports to the nation surged. Exports to China rose $1.6 billion to $9.2 billion while imports fell $1.5 billion to $39.3 billion. That brought the total deficit...
  • US trade deficit narrows to $49.4 billion in February

    04/17/2019 9:28:14 AM PDT · by Olog-hai · 17 replies
    Associated Press ^ | April 7, 2019 | Paul Wiseman
    The U.S. trade deficit fell for the second straight month in February, and the politically sensitive deficit in the trade of goods with China narrowed. The Commerce Department said Wednesday that the gap between the goods and services that the United States sells and what it buys from the rest of the world dropped 3.4% to $49.4 billion in February, the lowest since June. The deficit had slid 14.6% in January. Exports climbed 1.1% to $209.7 billion on a surge in shipments of civilian aircraft, passenger cars and medicine. Imports rose 0.2% to $259.1 billion. The goods deficit with China...
  • US trade gap falls 15 percent to $51.1 billion in January

    03/27/2019 10:01:21 AM PDT · by Olog-hai · 12 replies
    Associated Press ^ | March 27, 2019 | Paul Wiseman
    The U.S. trade deficit tumbled nearly 15 percent in January as imports fell and exports rose. Shipments of American goods to China skidded to the lowest level in more than eight years as the world’s two biggest economies remained locked in a trade war. The Commerce Department said Wednesday that the gap between the goods and services that the United States sells and what it buys from other countries dropped by 14.6 percent to $51.1 billion in January from $59.9 billion in December. Exports rose 0.9 percent to $207.3 billion, and imports dropped 2.6 percent to $258.5 billion. The deficit...
  • Trump's tariffs are working like a charm and the Chinese are panicking

    01/22/2019 3:49:45 PM PST · by SleeperCatcher · 27 replies
    The National Sentinel ^ | 1/22/19 | USA Features
    Headline: CEO: POTUS Trump’s tariffs like ‘gun to the head’ of China, forcing Beijing to negotiate or suffer MASSIVE recession and unrestThe CEO of a U.S.-based global investment firm said Tuesday that POTUS Donald Trump’s tariff regime against China is having the desired effect of both slowing Beijing’s economy while “holding a gun to the head” of a county that is used to enormous economic growth. On Monday, the Chinese government announced in response to its slowest economic growth since 1990 that it was willing to spend as much as $1 trillion to close the yawning trade deficit with the...
  • Remember Trump's supposedly 'lose-lose' trade war? He’s winning. China's losing.

    01/13/2019 9:22:10 AM PST · by rickmichaels · 13 replies
    Financial Post ^ | Jan. 11, 2019 | Lawrence Solomon
    Not that long ago, China’s economy was seen as a juggernaut that would soon overtake America’s to become the world’s largest. “Made in China 2025,” the Chinese government’s blueprint to take over manufacturing, was seen as an existential threat to U.S. technological leadership. Speculation had the Chinese yuan replacing the United States dollar as the world’s reserve currency. What a difference a trade war makes. No one marvels at the Chinese economy today. Car sales in China, the world’s largest car market, plummeted by 19 per cent in December, capping a six-per-cent decline in sales for the 2018 year, the...
  • Trump says United States is having tremendous success with China on trade (huh?)

    01/12/2019 8:20:04 PM PST · by cba123 · 37 replies
    Crazy Banana ^ | 1/12/2019 | Antoinette Montgomery
    American officials said during their discussions they relayed Trump's commitment to addressing trade deficit concerns and resolving structural issues affecting trade between the two countries. (please see the full article, at the link) I really don't see what Trump is talking about, but I do not have access to our trade delegation either. Maybe he is seeing something different. What I am seeing, is we just set the worst trade deficit in all recorded history, with China. The worst ever. Worst. Between any two countries. Ever. It is not improving. It is getting worse. I am all for Trump, but...
  • Meanwhile, Donald Trump Reshapes the World

    01/14/2019 2:39:23 PM PST · by Kaslin · 7 replies
    Rush ^ | January 14, 2019 | Rush Limbaugh
    RUSH: Yeah, another thing that’s so frustrating to me about all this honestly, folks, is that Donald Trump has really made good on his promise to make America great again and then is in the process of reshaping the world. Do you realize…? Have you heard the ChiComs have agreed to start importing rice from the United States? Now, stop and think about this for a second. Donald Trump sold ice to Eskimos. He has just made a deal where the ChiComs are gonna import rice from American farmers. The ChiComs on all of these arguments over tariffs are gonna...
  • Dear Libertarians: Trade Deficits Matter

    01/13/2019 1:32:25 PM PST · by Thalean · 8 replies
    American Greatness ^ | January 13, 2019 | Spencer P Morrison
    Steve Hanke recently set out to prove “why President Trump’s trade message and protectionist policies are rubbish” in a Forbes article. Instead, the Johns Hopkins University economist exposed himself as a word-mincing, logic-twisting sophist—just like every other intellectual mercenary associated with the faux-libertarian propaganda mill that is the Cato Institute. Hanke’s argument: trade deficits don’t exist, China is not screwing America, and President Trump (the village idiot) is jousting windmills. The real problem is lazy Americans who shop-til-they-drop and demand welfare “gimmies” from Uncle Sam.
  • NAFTA deal is done between U.S. and Canada...Canada to cede large part of dairy to U.S.

    09/30/2018 7:18:57 PM PDT · by Bigtigermike · 140 replies
    BREAKING - Top US Source says "deal is done" re #NAFTA. Joint statement from @USTradeRep & Canada's Freeland expected soon. I'm told #NAFTA deal was reached around 9:30pm tonight. Canada giving a larger % of its dairy market to US products in exchange for cultural protection & some form of dispute resolution process (formerly Ch 19).
  • US trade deficit widened to $50.1 billion in July

    09/05/2018 8:00:15 AM PDT · by oincobx · 15 replies ^ | September 5, 2018 | Paul Wiseman
    The Commerce Department says the deficit in goods and services — the difference between what America sells and what it buys from other countries — rose to $50.1 billion in July from $45.7 billion in June. Exports slipped 1 percent to $211.1 billion. Imports increased 0.9 percent to a record $261.2 billion.
  • U.S. Trade Deficit Hits 19-Month Low Due to Record-High Exports

    07/06/2018 4:08:12 PM PDT · by Jim Robinson · 50 replies
    Breitbart ^ | July 6, 2018 | by Joshua Caplan
    The United States trade deficit dropped in May to the lowest level in 19 months as exports rose to a record level. The Department of Commerce announced the May trade deficit — the difference between what America sells and what it buys in foreign markets — decreased 6.6 percent to $43.1 billion — the smallest imbalance since October 2016. Exports climbed 1.9 percent to a record $215.3 billion. Imports were up a smaller 0.4 percent to $258.4 billion. The Trump administration followed through with imposing tariffs on $34 billion in Chinese products on Friday. China retaliated in kind, starting what...
  • Trump may have a point about EU tariffs, ifo (Munich)

    06/30/2018 9:04:12 AM PDT · by Para-Ord.45 · 10 replies ^ | March 15, 2018 | Darrell Delamaide
    A leading German think tank says Donald Trump is right that tariffs between the United States and Europe are asymmetrical, but urges negotiations to lower import taxes across the board. US President Donald Trump may actually have a point when it comes to unfair taxes on US goods coming into Europe. That is the finding of a new study by a leading German think tank. Where they differ is how to deal with it: The group urges new talks to lower tariffs across the board, instead of engaging in a tit-for-tat escalation in new taxes. “The EU is by no...
  • From Foreign Vendors to Local Banks: Tariffs and Regulations in the Crosshairs

    05/25/2018 4:39:02 PM PDT · by jfd1776 · 6 replies
    Illinois Review ^ | May 25, 2018 A.D. | John F. Di Leo
    After three months of saber-rattling on the trade front – including the implementation of high duties on imported steel and aluminum, and threats of similarly high tariffs on a host of business and consumer products both from and to China – the dust appears to have settled for a while, with an announcement that China will work to import more from the USA, and a tentative agreement that a trade war would be bad for everybody. Within days, there were fresh discussions of new tariffs on other products that hadn’t been discussed previously - like cars and trucks – also...