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U.S. Trade Deficit With China Hits All-Time High Despite Tariffs
https://www.huffingtonpost.com/entry/us-trade-deficit-with-china-hits-all-time-high_us_5bdd153fe4b04367a87cb71cPresident Donald Trump’s steep tariffs on billions of dollars worth of Chinese products don’t seem to be particularly effective at re-balancing trade. America’s trade deficit with China hit a record high in September, according to figures reported Friday by the U.S. Commerce Department.
The deficit in goods and services trade with China increased to $40.2 billion for the month, the highest ever.
In addition, America’s overall foreign trade deficit in goods and services from all countries increased 1.3 percent from August to hit $54 billion for September — hitting a seven-month high. The deficit for goods alone hit an all-time high at $218 billion, reported CNBC.
The U.S. is on track to post its biggest foreign trade deficit in a decade, Market Watch reported.
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