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U.S. Trade Deficit Is Wider Than Any Month or Year Since 2008
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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U.S. Trade Deficit Is Wider Than Any Month or Year Since 2008
https://www.bloomberg.com/news/articles/2018-02-06/u-s-trade-deficit-is-wider-than-any-month-or-year-since-2008
Gap increased 12% in 2017 as China imbalance hit record high
Deficit may widen further as tax cuts set to boost imports
The U.S. trade deficit widened to the biggest monthly and annual levels since the last recession, underscoring the inherent friction in President Donald Trump’s goal of narrowing the gap while enjoying faster economic growth.
The deficit increased 5.3 percent in December to a larger-than- expected $53.1 billion, the widest since October 2008, as imports outpaced exports, Commerce Department data showed Tuesday. For all of 2017, the goods-and-services gap grew 12 percent to $566 billion, the biggest since 2008.
The trend may extend into this year: Solid consumer spending and business investment -- assuming they hold up amid the recent stock-market rout -- will fuel demand for foreign-made merchandise. While improving overseas growth and a weaker dollar bode well for exports, Trump’s efforts to seek more favorable terms with U.S. trading partners remain a work in progress, and his tax-cut legislation may cause the deficit to widen further.
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So much for MAGA... unless the first A is for Asia...
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Posted 2/6/18 10:39 AM  |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: U.S. Trade Deficit Is Wider Than Any Month or Year Since 2008
You just stop right now with all of that "fake news"!! 
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| Posted 2/7/18 8:49 AM |
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