It's a sign that Americans have money to spend on consumer goods and businesses are importing parts for things they'll sell to consumers.
U.S. consumers could be buying more American products. Or just buying less of everything.
The causes? The trade war and a slowing global economy.
Tariffs on foreign-made imports to the U.S., and retaliatory tariffs on U.S. exports, are dragging down exports and imports.
The overall deficit getting bigger isn't necessarily a bad thing, said Dan Ikenson, director of the Herbert A. Stiefel Center for Trade Policy Studies at the Cato Institute.
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 […]
The U.S. trade deficit in July surged to a five-month high, $50.1 billion, as exports of products like soybeans and civilian aircraft fell, while imports reached record levels. President Donald Trump regularly complains about trade deficits, but his own spending policies tend to undermine the goal of lowering the trade gap. One part of the […]
The U.S. wants China to buy more American goods to help lower the trade deficit. Does it work that way?
There’s been a little bit of confusion these past couple days on how trade talks with China are going. U.S. officials told CNN that China had offered to bump up purchases of American goods by $200 billion. Chinese officials said that’s not true. The Trump administration believes that the trade deficit with China could be brought […]