Home Politics Trade deficit at highest point in ten years

Trade deficit at highest point in ten years

The United States trade deficit last year rose to the highest level in ten years. Figures from the US Department of Commerce point to a deficit of $ 621 billion. The increase is a thorn in the face of President Donald Trump who previously promised to reduce the deficit.

Tax cuts in the US boosted domestic demand, while the relatively strong dollar and import tariffs weighed on exports. The annual shortage of goods and services increased by 12.5 percent. The US trade deficit with China last came to a record amount of 419 billion dollars.

Trump often pointed out with an accusing finger at the failing policies of his predecessors. But during his two-year presidency, the gap between what enters the country against the total amount of goods and services that are exported has only widened.

A quick agreement with China may also put little effort on the embankment for Trump and his followers. Experts point to the current economic conditions that obstruct US exports and persistent domestic demand, which calls for more imports.

Load More Related Articles
Load More In Politics

Leave a Reply

Your email address will not be published. Required fields are marked *