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Thread: U.S. Posts Record Annual Trade Deficit, record gap with China

  1. #1

    U.S. Posts Record Annual Trade Deficit, record gap with China

    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
    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 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/decembe...nt-11551877494



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



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  3. #2
    Everybody wanted to beat the tariffs.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  4. #3
    Quote Originally Posted by Swordsmyth View Post
    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.

  5. #4
    Quote Originally Posted by Zippyjuan View Post
    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.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  6. #5
    Quote Originally Posted by Swordsmyth View Post
    More tariffs are coming and everyone knows it.
    Let's slow down the economy even more! Winning!

    https://www.washingtonexaminer.com/o...just-one-month

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

  7. #6
    Quote Originally Posted by Zippyjuan View Post
    Let's slow down the economy even more! Winning!

    https://www.washingtonexaminer.com/o...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.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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