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

[Denizen]

Donald Trump's straight-from-the-gut Trump casino economics is wrong-headed and is increasing the trade deficit rather than reducing it.

This time Donald Trump's father Fred isn't around to buy US casino economy chips and save Donald Trump's ass as the US economy races towards another Trump chapter 11.

The sorry bunch of anus-kissers and sycophants that calls itself the GOP is dazed and helpless as Trump ravages the US economy.

The US is headed in a wrong-headed direction and is becoming friendless in the international political environment, except for those 'friends' who are bought with big swathes of US loans and grants.

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

In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 Billion
The United States trade deficit in goods reached $891.3 billion in 2018 — the highest it’s ever been.

By Jim Tankersley and Ana Swanson
March 6, 2019

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. ...

 

[miketx]

More media fake crap. We need friends we don't have to pay.

 

[Denizen]

More media fake crap. We need friends we don't have to pay.

Is the answer to US friendlessness to tie more pork chops around Donald Trump's neck?

 

[Auld Phart]

I'm tired of merging threads.

This is the 4th thread on this, TODAY.

Check the threads before you start a new one.

closed