Politics : 'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

…..whoops?…..

'WASHINGTON — America’s trade deficit in goods with the rest of the world rose to its highest level in history last year as the United States imported a record number of products, including from China, widening the deficit to $891.3 billion and delivering a setback to President Trump’s goal of narrowing that gap.

The increase was driven by some factors outside Mr. Trump’s 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. Trump’s $1.5 trillion tax cut, which has been largely financed by government borrowing, and the trade war he escalated last year.

It is a case of textbook economics catching up with some of Mr. Trump’s unorthodox economic policies. Economists have long warned that Mr. Trump’s tax cuts would ultimately exacerbate a trade deficit he has vowed to reduce, as Americans, flush with extra cash, bought more imported goods.

His trade war with Beijing also widened the gap: Stiff tariffs on Chinese goods helped slow China’s economy, crimping American exports, which declined nearly 50 percent in December from the same month a year before.'

Re: 'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

Red commie lover

Re: 'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

And the economy is still booming. Trump has a very stupid view of trade, he follows the same trade ideas as retarded Bernie Sanders. Trade surpluses or deficits don't mean anything. Venezuela consistently has trade surpluses, and that country sucks.

Re: 'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

We have a deficit in goods but not in services, which are expected to be more important in the future, especially once 3D printing matures. Then manufacturing will literally come home. That is the economics sci-fi version of the future. More likely we will all be scrambling to find food in a catastrophically warming world.

Re: 'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

None of it matters, OP is once again displaying the fact that he really knows jack shit about trade. He thought he had an opportunity to take a shot at Trump and all he did was expose himself as an ignorant retard again.

Re: 'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

……but YerDumb, i actually agree with you on this matter. Worrying about relatively minor trade deficits is pointless.

But that was an important plank in the Trump platform. And he has based policies on addressing it.

Re: 'In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 B'

You were trying to take a shot at Trump and you exposed your idiocy.
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