1 of 1- Goose
- Cogito ergo sum
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U.S. trade gap soars as imports from China hit record high
U.S. trade gap soars as imports from China hit record high
By DOUG PALMER 12/05/2017 09:28 AM EST
The U.S. trade deficit jumped 8.6 percent in October as imports from China and other suppliers hit a record high ahead of the holiday shopping season, a Commerce Department report released Tuesday showed.
The monthly trade gap totaled $48.7 billion, the highest level for a full month since President Donald Trump took office on Jan. 20.
Ahead of the election, a Trump campaign adviser asserted they could eliminate the deficit in one or two years. Instead, the 2017 deficit is on track to exceed the 2016 level of $505 billion.
Imports of goods and services hit a record high of $244.6 billion as the U.S. economy continued to strengthen and suck in more goods from abroad. Imports totaled $48.2 billion from China, $39.4 billion from the EU and $28.7 billion from Mexico — all record highs.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- tennyson
- Exchanger
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Re: U.S. trade gap soars as imports from China hit record high
Once again, Trump is a lot of hot air.
Rather than keeping us in the game with trade, he has pretty much isolated us while the rest of the world continues to negotiate bigger trade deals without us.
Of course now that many will see some paltry saving on taxes (assuming it makes it), IF Trump decides to impose embargoes on imported goods then his supporters will just wind up paying MORE for the same goods and as a result "good bye" tax cuts.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"