US trade deficit widens by $46.3 billion in June
Source: Associated Press
By PAUL WISEMAN
35 minutes ago
WASHINGTON (AP) -- The U.S. trade deficit widened in June for the first time in four months as exports fell and imports grew. Politically sensitive trade gaps with China, Mexico and Canada all increased.
The Commerce Department said Friday that the deficit in goods and services -- the gap between what the US sells and what it buys from other countries -- rose 7.3 percent to $46.3 billion in June from $43.2 billion in May. U.S. exports slid 0.7 percent to $213.8 billion; imports rose 0.6 percent to $260.2 billion, led by increases in medicine and crude oil.
The United States ran goods deficits in June of $33.5 billion with China, up 0.9 percent from May; $7.4 billion with Mexico, up 10.5 percent; and $2 billion with Canada, up 39.7 percent.
In the first half of the year, the United States has registered a trade deficit in goods and services of $291.2 billion, up 7.2 percent from January-June 2017.
Read more: https://apnews.com/09df7c4de6f54db8b679c28cd2fb26bd/US-trade-deficit-widens-by-$46.3-billion-in-June
U.S. International Trade in Goods and Services June 2018
https://www.bea.gov/newsreleases/international/trade/2018/trad0618.htm
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U.S. International Trade in Goods and Services, June 2018 https://ift.tt/2Mgx5EX
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NewJeffCT
(56,828 posts)what a moron
lagomorph777
(30,613 posts)True Blue American
(17,986 posts)Is now in charge. Smaller than expected jobs. Deficit explodes.
pazzyanne
(6,556 posts)Achilleaze
(15,543 posts)we are still coasting on the goodness of Obamanomics. The Dirty Donny republican disaster is still bubbling up from the depths of their ideological cesspool.
Bernardo de La Paz
(49,007 posts)Bernardo de La Paz
(49,007 posts)US runs a trade surplus with Canada when you count in services.
https://ustr.gov/countries-regions/americas/canada
Sunlei
(22,651 posts)I doubt most Americans will pay or can afford 20 a gallon for milk or 10 for a lb of ground beef.
mahatmakanejeeves
(57,489 posts)I'd start drinking now, but I'm at work.
Sunlei
(22,651 posts)people want cars & college education-, not sure if it's good or not to finance a $30,000++ car for 10 years or finance a college education for 50 years.
riversedge
(70,242 posts)Under Trumps watch, the U.S. is on track for the highest trade deficit in 10 years
https://www.washingtonpost.com/business/2018/08/03/trump-hates-trade-deficit-its-track-be-biggest-decade/?noredirect=on&utm_term=.cc1939778f9a
President Donald Trump pauses during a rally, Thursday, Aug. 2, 2018, at Mohegan Sun Arena at Casey Plaza in Wilkes Barre, Pa.. (Carolyn Kaster/AP)
by Heather Long August 3 at 12:49 PM Email the author
The United States trade deficit widened in June and is on track to be the biggest in a decade despite President Trumps efforts to slash it.
For the first half of 2018, the trade deficit in goods and services hit $291.2 billion, the federal government reported Friday, which is higher than last year and puts the nation on track to have the largest annual deficit since 2008.
Trump has repeatedly promised to reduce the trade deficit during his White House tenure, but so far, it has grown under his watch.
He claims Americas massive trade deficit is a sign the country is getting beaten by China, Germany and others, and he blames the deficit on very stupid trade deals. Most economists do not view the trade deficit as a problem. They point out that a big driving factor behind the higher trade deficit this year is that U.S. consumers are buying more stuff. Thats happening largely because the U.S. economy is doing well and people feel bullish enough to shop more for goods. Trumps tax cuts have also helped fuel the buying spree for foreign products........................
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