PDA

View Full Version : U.S. Posts Record Annual Trade Deficit, record gap with China




enhanced_deficit
03-06-2019, 12:07 PM
Trump wanted to reduce trade deficit but opposite seems to have happened. Not sure if this would drive Trump to furrther increase tariffs on China goods:

U.S. Posts Record Annual Trade Deficit

The shortfall grew last year despite President Trump’s aim to reduce it

555 Comments (https://www.wsj.com/articles/december-2018-trade-data-from-u-s-commerce-department-11551877494#comments_sector)
By Paul Kiernan

March 6, 2019 9:27 a.m. ET

WASHINGTON—The U.S. posted its widest monthly trade gap since 2008 in December and a record annual deficit in goods as sturdy economic growth underpinned higher spending by American consumers (https://www.wsj.com/articles/u-s-consumers-hit-hardest-by-trade-tariffs-studies-find-11551820951?mod=article_inline) and businesses.
The international trade deficit in goods and services widened 19% in December from the prior month to a seasonally adjusted $59.8 billion, the Commerce Department said Wednesday. Economists surveyed by The Wall Street Journal had expected a $57.3 billion gap.
The shortfall grew last year despite President Trump’s aim to reduce it.

https://www.wsj.com/articles/december-2018-trade-data-from-u-s-commerce-department-11551877494



US trade gap jumped to 10-year high; record gap with China
today
https://www.apnews.com/bd3cb95e3d8b47198a184cfa57dddb06

Swordsmyth
03-06-2019, 04:59 PM
Everybody wanted to beat the tariffs.

Zippyjuan
03-06-2019, 05:38 PM
Everybody wanted to beat the tariffs.

Gap continued to grow even after tariffs went into effect and were no longer to be "beaten". A strong economy contributes to the trade deficit. People and business with more money to spend buy more stuff including imports. Strong economy also means strong currency. Strong currency makes imports cheaper and exports more expensive so we import more and export less.

Swordsmyth
03-06-2019, 05:41 PM
Gap continued to grow even after tariffs went into effect and were no longer to be "beaten". A strong economy contributes to the trade deficit. People and business with more money to spend buy more stuff including imports. Strong economy also means strong currency. Strong currency makes imports cheaper and exports more expensive so we import more and export less.
More tariffs are coming and everyone knows it.

Zippyjuan
03-06-2019, 05:46 PM
More tariffs are coming and everyone knows it.

Let's slow down the economy even more! Winning!

https://www.washingtonexaminer.com/opinion/trumps-tariffs-cost-businesses-2-7-billion-in-just-one-month


Trump's tariffs cost businesses $2.7 billion in just one month

Swordsmyth
03-06-2019, 05:49 PM
Let's slow down the economy even more! Winning!

https://www.washingtonexaminer.com/opinion/trumps-tariffs-cost-businesses-2-7-billion-in-just-one-month
Some temporary pain may be required to fix a condition that is killing us slowly but surely.

And there is lots of evidence that good things are happening too.