US trade deficit jumps by the most in 3 years

[essentialsaltes]

• The U.S. trade deficit increased to a five-month high in July.
• Exports of soybeans and civilian aircraft declined and imports hit a record high
• The Commerce Department said the trade gap jumped 9.5 percent to $50.1 billion

The politically sensitive goods trade deficit with China surged 10 percent to a record $36.8 billion.

 

[Aryeh Jay]

We are winning!!

 

[Goonie]

Go! Team America!

 

[mark46]

It must be Obama's fault, or Hillary's.

It certainly couldn't be the fault of the worst trade policy since Hoover.

 

[Jeffwhosoever]

Sure seems like our trade wars aren't achieving much success.

 

[essentialsaltes]

China trade surplus with US widens to record $34 billion.

September marked the second straight record Chinese monthly trade surplus with the United States after August’s $31 billion.

 

[KCfromNC]

China trade surplus with US widens to record $34 billion.

September marked the second straight record Chinese monthly trade surplus with the United States after August’s $31 billion.

But but but someone said that maybe the Chinese would do something after Trump ran away from his plans to fight a trade war against them. This must be fake.

 

[Andrew77]

It must be Obama's fault, or Hillary's.

It certainly couldn't be the fault of the worst trade policy since Hoover.

It's not anyone's fault. We are buying more stuff, because we are wealthy, and can afford to buy stuff.

There is nothing 'bad' about a deficit. You want to eliminate the trade deficit? Destroy the economy, and when people are poor, we won't import anything.

 

[mark46]

Consider the situation of deciding whether to trade from COUNTRY X who we have never traded with before.

COUNTRY X produces lots of consumer goods at relatively low prices since the cost of living and wages are low in COUNTRY. However, COUNTRY X has no need for American products since such products are cheaper for them to buy from neighboring countries.

So, we have a choice to buy goods and reduce US prices to consumers. BUT, we would be creating and increases our trade deficit with this country each time we purchased goods. Should we purchase goods from the country? OF COURSE, WE SHOULD. Trump would say no.

It's not anyone's fault. We are buying more stuff, because we are wealthy, and can afford to buy stuff.

There is nothing 'bad' about a deficit. You want to eliminate the trade deficit? Destroy the economy, and when people are poor, we won't import anything.

 

[High Fidelity]

Looking forward to hearing how this is related to Hillary's emails.

 

[Andrew77]

Consider the situation of deciding whether to trade from COUNTRY X who we have never traded with before.

COUNTRY X produces lots of consumer goods at relatively low prices since the cost of living and wages are low in COUNTRY. However, COUNTRY X has no need for American products since such products are cheaper for them to buy from neighboring countries.

So, we have a choice to buy goods and reduce US prices to consumers. BUT, we would be creating and increases our trade deficit with this country each time we purchased goods. Should we purchase goods from the country? OF COURSE, WE SHOULD. Trump would say no.

Yeah, I agree with all of that. I'm in favor of free trade. Trade deficits are just a sign we are wealthy.