U.S. trade deficits hit record high following Trump tariff wars

Trump dealt blow as US trade deficit jumps

Trump dealt blow as US trade deficit jumps

But the deficit has been a long-standing bugaboo for Trump. "If President Trump really is focused on economic growth, he should be welcoming these big trade deficits". "It has become a number that fundamentally matters because it is a statistic to which Trump is accountable".

"The flaw in how the market thinks is that it's less concerned than it should be about the longer-term outlook for free trade and what it could mean for corporate profitability, and whether the current global trading system is going to work as it has in the future", said Ronald Temple, co-head of multi-asset and head of USA equity at Lazard Asset Management. A trade deficit reducing tariff would have to be much higher, perhaps even exceeding the 25 percent that was supposed to apply two months ago. Moreover, Trump pulled the US out of the longstanding trilateral North American Free Trade Agreement, which came into force in 1994 to unify the US, Canada, and Mexico.

In the first 11 months of 2018, the U.S. trade deficit in goods and services with the world increased $52 billion, or about 10%, from the same period in 2017. Oddly Trump, ever the sucker for a dictator, hasn't done anything on that front, perhaps because his "friend" President Xi rolled out the red carpet and complimented Trump. Mr Trump claims the country doesn't play fair when it comes to its trade practices, and both sides keep increasing tariffs on each others' goods as a result.

Others have argued that Trump's tariffs have acted as a tax on consumers.

That said, China does appear at least open to prying open more of its financial sector, which has largely been closed off to US and European banks. Economists from the University of California, Los Angeles; Yale University; and the University of California, Berkeley released the latest draft of an economic study this week that showed that Americans footed the entire tariff bill in 2018. That imbalance surged to $419.2 billion in 2018 under Trump's watch. It increased by 18.8 percent in December to nearly $60 billion, larger than economists' predictions, as exports fell by 1.9 percent and imports increased by 2.1 percent.

He's pushing for US negotiators to close a trade deal with China soon, concerned that he needs a big win on the global stage - and the stock-market bump that would come with it - in advance of his re-election campaign.

There are clear indicators that the Chinese economy is taking a hit from American tariffs.

R. Kelly taken into custody in IL
Now that each family has been cut out, Kelly claimed , they're speaking out against him because they want money from him. When the topic of age came up, he said, "I just look at legal", and that he doesn't care if the women are much younger.

There is some irony in the fact that Trump's own policies - his $US1.5 trillion of tax cuts and the big increase in United States budget deficits and borrowing requirements - have contributed to the increased deficit.

EU Trade Commissioner Cecilia Malmstrom is in Washington this week and due to meet later Wednesday with US Trade Representative Robert Lighthizer as they prepare for formal negotiations.

Trump has sought to boost the American economy, pledging to lift its growth rate to more than 3 percent, compared to the 2 percent achieved during the Obama administration.

Today, the US economy is healthy, with economic growth relatively robust.

But in 2018, the USA exported fewer goods compared with how much it bought.

USA officials also announced this week they planned to investigate Japanese titanium exports for possible tariff implementation. The trade gap for the year therefore reached $621 billion (£472.5 billion). They and other Democrats should stop mimicking Trump's economic silliness, pledge to end trade wars, vow to open up markets and then outline a generous and comprehensive package to address workers and regions adversely impacted by trade.

Anything could happen, as Trump himself said on Wednesday: It's "either going to be a good deal or it's not going to be a deal". But it's also a victim of his trade policy failures. "I just don't see a middling path here".

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