Trade gap

Paul Wiseman Associated Press Published 9:27 AM EDT Mar 27, 2019 Washington – The U.S. trade deficit tumbled nearly 15 percent in January as imports fell and exports rose. Shipments of American goods to China skidded to the lowest level in more than eight years as the world’s two biggest economies remained locked in a trade war. The Commerce Department said Wednesday that the gap between the goods and services that the United States sells and what it buys from other countries dropped by 14.6 percent to $51.1 billion in January from $59.9 billion in December. Exports rose 0.9 percent to $207.3 billion, and imports dropped 2.6 percent to $258.5 billion. The deficit in the trade of goods with China narrowed by 6.4 percent to $34.5 billion. U.S. goods exports to China dropped 22.3 percent to $7.1 billion, lowest since September 2010; Chinese imports dropped 9.6 percent to $41.6 billion. The Trump administration has imposed taxes on $250 billion worth of Chinese imports, … [Read more...] about U.S. trade gap falls 15% to $51.1B in January

Paul Wiseman Associated Press Updated 8:48 AM EDT Oct 5, 2018 Washington – Record imports drove the U.S. trade deficit up for the third straight month in August. The deficit in the trade of goods with China and Mexico hit records. The Commerce Department said Friday that the trade gap – the difference between what America sells and what it buys abroad – rose to $53.2 billion in August from $50 billion in July. The August reading was the highest since February. Imports rose 0.6 percent to a record $262.7 billion on higher shipments of cellphones and autos; exports slid 0.8 percent to $209.4 billion. The U.S. ran a $76.7 billion deficit in the trade of goods such as machinery and cars. That gap was partially offset by a $23.5 billion surplus in the trade of services such as banking and tourism. President Donald Trump campaigned on a pledge to bring down U.S. trade deficits and has slapped taxes on imported steel, aluminum and on many Chinese products, drawing … [Read more...] about Record imports push US trade gap to $53.2B in August