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In a Blow to Trump, Americas Trade Deficit Hit a Record $891 Billion
https://www.nytimes.com/2019/03/06/us/politics/us-trade-deficit.html?action=click&module=MoreInSection&pgtype=Article®ion=Footer&contentCollection=
The United States trade deficit in goods reached $891.3 billion in 2018 the highest its ever been.CreditMark Ralston/Agence France-Presse Getty Images
By Jim Tankersley and Ana Swanson
March 6, 2019
WASHINGTON Americas trade deficit with the rest of the world rose to its highest level in history last year as the United States imported more goods than ever, including a record amount from China, ballooning the deficit to $891.3 billion and delivering a setback to President Trumps goal of narrowing that gap.
The increase was driven by some factors outside Mr. Trumps control, like a global economic slowdown and the relative strength of the United States dollar, both of which weakened overseas demand for American goods. But the widening gap was also exacerbated by Mr. Trumps $1.5 trillion tax cut, which has been largely financed by government borrowing, and the trade war he escalated last year.
The trade deficit is the difference between how much a country sells to its trading partners and how much it buys. Mr. Trump has long boasted that his trade policies would reduce that gap, which he views as a measure of whether partners like China and the European Union are taking advantage of the United States, a diagnosis that few economists share.
Instead, in a year when Mr. Trump imposed tariffs on steel, aluminum, washing machines, solar panels and a variety of Chinese goods, the trade deficit grew by 12.5 percent from 2017, or nearly $70 billion, the Commerce Department said Wednesday.....................
Ohiogal
(32,049 posts)SWBTATTReg
(22,156 posts)we're out $ Billions of Dollars (US Consumers) because of rump's stupid and ineffective actions.
I wonder if anyone is writing a book on 'How Not To Be A US President'? Plenty of material around to write tons of stuff.
Iliyah
(25,111 posts)Republicans don't care. They enrich themselves and suck everything dry and then blame every body else.
Response to riversedge (Original post)
ooky This message was self-deleted by its author.
BigmanPigman
(51,626 posts)ooky
(8,928 posts)His big talk on trade was just one big lie, for votes, right from the beginning. Pretty soon farmers are going to start realizing there is no end game to his trade war. They are just victims of Trump lies, pure and simple.
BigmanPigman
(51,626 posts)Did they really learn?
ooky
(8,928 posts)M$M keeps publishing articles that say they continue to "support his policies", and that they are "worried about border security", even though they might lose the family farm.
I mean, how dumb is that?
BigmanPigman
(51,626 posts)riversedge
(70,289 posts)duforsure
(11,885 posts)By trump and the gop , so they can't blame others for their policies for the wealthy, and hurting the rest of us by robbing the poor and the middle class. trump supporters got to be so happy now counting all the extra money they got, lol.
Submariner
(12,507 posts)renate
(13,776 posts)That's where it all started.
smirkymonkey
(63,221 posts)He fucks up everything he touches. Why should the US economy be any different? I don't think we have seen the worst of yet.