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Thu Dec 6, 2018, 08:58 AM

International trade deficit surges to highest in a decade as imports rise, US exports drop

Source: CNBC

he U.S. trade deficit jumped to a 10-year high in October as soybean exports continued to fall and imports of consumer goods rose to a record high, suggesting the Trump administration's tariff-related measures to shrink the trade gap likely have been ineffective.

The Commerce Department said on Thursday the trade deficit increased 1.7 percent to $55.5 billion, the highest level since October 2008. The trade gap has now widened for a five straight months. Data for September was revised to show the deficit rising to $54.6 billion instead of the previously reported $54.0 billion.

The politically sensitive goods trade deficit with China surged 7.1 percent to a record $43.1 billion in October.

The United States is locked in a bitter trade war with China. Washington has imposed tariffs on $250 billion worth of Chinese imports to force concessions on a list of demands that would change the terms of trade between the two countries.

Read more: https://www.cnbc.com/2018/12/06/international-trade-surges-to-highest-in-a-decade-as-imports-rise.html



More winning from tRump--for the US opponent

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Reply International trade deficit surges to highest in a decade as imports rise, US exports drop (Original post)
Julian Englis Thursday OP
BootinUp Thursday #1
Doodley Thursday #2
still_one Thursday #3
NCjack Thursday #4
UpInArms Thursday #5
IronLionZion Thursday #6
Achilleaze Thursday #7
nwduke Thursday #8
The Liberal Lion Thursday #9
machoneman Thursday #10
Honeycombe8 Thursday #11
lark Thursday #12
watoos Thursday #13
colorado_ufo Thursday #16
keithbvadu2 Thursday #14
aggiesal Thursday #15
llmart Thursday #20
turbinetree Thursday #17
elmac Thursday #18
muriel_volestrangler Thursday #19

Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:01 AM

1. Gee... who could have predicted that?

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:07 AM

2. Trump started a trade war and America lost.

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:09 AM

3. That decline in exports contributed to the problem in the U.S. auto industry

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:20 AM

4. Once again, it's Obama's fault. nt

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:31 AM

5. U.S. trade deficit climbs to 10-year high as American snap up imports while China boycotts soybeans

?uuid=c485c4f6-f95c-11e8-baee-ac162d7bc1f7

The deficit edged up to $55.5 billion from a revised $54.6 billion in September, the Commerce Department said Thursday. Thatís the biggest deficit since October 2008.

Economists polled by MarketWatch had forecast a $55.1 billion gap.

What happened: Imports rose 0.2% to $266.5 billion in October, also a record. The U.S. imported more autos, drugs and other consumer goods.

Exports slipped 0.1% to $211 billion. Shipments of industrial supplies increased, but exports of soybeans and airplanes fell.

The trade deficit with China in goods rose again to a fresh all-time high of $43.1 billion.


https://www.marketwatch.com/story/us-trade-deficit-climbs-to-10-year-high-despite-tariffs-tough-trump-stance-2018-12-06?mod=newsviewer_click

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:32 AM

6. Tariffs on imports don't affect us as much as their tariffs on US exports

Other countries' retaliatory tariffs screws Americans pretty badly. There aren't that many foreign customers for US goods to begin with and dipshit has made it worse.

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:33 AM

7. Wow - republicans are destroying America's economy

as they always do.

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:50 AM

8. Well he bankrupted 6 of his companies so far

why not bankrupt the US!

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:54 AM

9. China now can treat America like America treated the Soviet Union

Namely, they can just let America drags itself into destruction thru bankrupting itself. Sure China, like America in the past, will pay a price. But are they more suited to pay this price? That we shall see.

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 09:57 AM

10. Why, oh, why do they keep saying it's Washington's trade war? It's TRUMP'S TRADE WAR!

Get it right for Chrissakes!

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 10:04 AM

11. Shameful and stupid that people fell for his con job. HE'S making money. That's all he cares about.

That is ALL Trump cares about. When will Trumpers get it?

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 10:26 AM

12. He and his family are paid well to enhance the fortunes of Russia, China and Saudi Arabia

at the expense of America and the rest of the world.

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Response to lark (Reply #12)

Thu Dec 6, 2018, 10:31 AM

13. Bingo! Nailed it.

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Response to lark (Reply #12)

Thu Dec 6, 2018, 11:06 AM

16. Yep.

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 10:33 AM

14. Thank you Donald. "the highest level since October 2008"

Thank you Donald. "the highest level since October 2008"

Obama brought down the trade deficit and Trump has brought it higher than at any time in Obama's time in office.

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Response to keithbvadu2 (Reply #14)

Thu Dec 6, 2018, 11:00 AM

15. October 2008 would have been 1 month before Obama got elected ...

So the last 2 highest trade deficits were by Repug administrations.

Blame it on Obama, it's all his fault!

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Response to aggiesal (Reply #15)

Thu Dec 6, 2018, 11:47 AM

20. Also, when President Clinton left office there was a surplus...

Didn't take long for Dubya to squander that.

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 11:07 AM

17. Even though this corporation paid hardly nothing in taxes and got a big tax break

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 11:36 AM

18. the corporate farms got their back channel money, thanks to tax payers, so no worry. nt

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Response to Julian Englis (Original post)

Thu Dec 6, 2018, 11:42 AM

19. Trump: 'Trade wars are good, and easy to win'




Fucking clown.

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