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Elder Lister
Trump’s Plan to Reduce Trade Deficit Falters as It Hits an All-Time High Instead
The Commerce Department reportedWednesday the U.S. posted a more than $891 billion merchandise trade deficit last year—the largest in the history of the country.
Significantly, the trade deficit with China hit a record $419 billion, despite a series of tariffs the administration imposed on Chinese goods to decrease reliance on imports.
Meanwhile, the overall goods and services deficit jumped 19% between November and December 2018, to $59.8 billion, the highest monthly trade deficit in 10 years.
The Commerce Department reportedWednesday the U.S. posted a more than $891 billion merchandise trade deficit last year—the largest in the history of the country.
Significantly, the trade deficit with China hit a record $419 billion, despite a series of tariffs the administration imposed on Chinese goods to decrease reliance on imports.
Meanwhile, the overall goods and services deficit jumped 19% between November and December 2018, to $59.8 billion, the highest monthly trade deficit in 10 years.