Why Trump didn’t shrink the trade deficit in 2018

Tracey Samuelson Mar 7, 2019
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President Donald Trump's administration is said to be considering changes to the way the trade deficit is calculated. Ron Sachs-Pool/Getty Images

Why Trump didn’t shrink the trade deficit in 2018

Tracey Samuelson Mar 7, 2019
President Donald Trump's administration is said to be considering changes to the way the trade deficit is calculated. Ron Sachs-Pool/Getty Images
HTML EMBED:
COPY

Americans imported a record number of goods last year, according to new data from the Commerce Department released Wednesday. U.S. service exports also hit a record high. The net effect was the largest trade deficit since 2008 — $621 billion, up nearly 13 percent from the prior year. However, many economists say the U.S. trade deficit isn’t necessarily a cause for concern. In fact, last year’s growth was largely driven by a strong U.S. economy.

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