Authorization

Trump is losing the trade war with China based on his favorite report card, and it's probably going to keep getting worse

Trump is losing the trade war with China based on his favorite report card, and it's probably going to keep getting worse
Pablo Martinez Monsivais/AP



The US trade deficit hit $55.5 billion in October, the highest since October 2008.




The increase in the deficit came due to continued growth in imports, while exports actually fell.




The trade deficit with China also hit a record level.




One of President Donald Trump's goals for the trade war was to reduce the trade deficit, but the president's own policies are likely prompting some of the widening gap.



Shrinking the US trade deficit has been a key goal of President Donald Trump's trade war.
But the Census Bureau announced Thursday that the US trade deficit grew to $55.5 billion in the month of October, the highest in exactly 10 years. That was a 1.7% jump from September, as imports rose by 0.2% and exports fell by 0.1%.
Trump has long been focused on the trade deficit as a signal that his administration's tariffs on Chinese good and metals are working, despite the fact that most economists discount the measure as a sign of effective trade policy.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Декабрь 2018    »
ПнВтСрЧтПтСбВс
 12
3456789
10111213141516
17181920212223
24252627282930
31