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Wed Apr 7, 2021, 10:18 AM

US trade deficit jumps 4.8% to $71.1 billion in February

Source: AP

By MATT OTT

SILVER SPRING, Md. (AP) — The U.S. trade deficit grew to a record $71.1 billion in February as a decline in exports more than offset a slight dip in imports, with severe weather taking much of the blame from analysts, who were expecting a slightly lower gap.

The coronavirus pandemic has stifled global trade for more than a year, but those barriers appear to be falling as millions of people get vaccinated and countries start easing operating restrictions for businesses. Total trade after two months of 2021 is just 1.8% behind where it was at this point last year, before the global economy was blindsided by the pandemic.

The February gap between what America buys from abroad compared to what it sells abroad jumped 4.8% above the revised January deficit of $67.8 billion, the Commerce Department said Wednesday.

The increase reflected a 2.6% decline in exports of goods and services to $187.3 billion on a seasonally adjusted basis. That wiped out a 0.7% decline in imports, which ticked down from January’s record high of $260.1 billion.



Crew members stand on the bow as the CMA CGM Argentina arrives at PortMiami, the largest container ship to call at a Florida port, Tuesday, April 6, 2021, in Miami. The U.S. trade deficit grew to $71.1 billion in February, as a decline in exports more than offset a slight dip in imports. The February gap between what America buys from abroad compared to what it sells abroad jumped 4.8% the revised January deficit of $67.8 billion.vThe increase reflected a 2.6% decline in exports of goods and services to $187.3 billion on a seasonally adjusted basis. (AP Photo/Lynne Sladky)


Read more: https://apnews.com/article/global-trade-36fe0d9c64d11b1e8800f1b3a030f733

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Reply US trade deficit jumps 4.8% to $71.1 billion in February (Original post)
Omaha Steve Apr 7 OP
OldCicero Apr 7 #1
peppertree Apr 7 #2

Response to Omaha Steve (Original post)

Wed Apr 7, 2021, 10:57 AM

1. Well maybe if American corporations would be forced

 

To pay their fair share of taxes and pay the workers a living wage we wouldn't have to buy all that foreign made crap!

Why do GOPers fight fair taxes on billionaires and fair pay for the rest of us?

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Response to Omaha Steve (Original post)

Wed Apr 7, 2021, 12:09 PM

2. February goods deficit: $88 billion

It became routine under Bush to report the goods and services deficit - which, since it includes service surpluses, is always smaller than the deficit in goods.

A war off the books, the services on the books.

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