CNS: $119,050,900,000: Merchandise Trade Deficit With China Hit Record Through April
(CNSNews.com) - The U.S. merchandise trade deficit with China set a record through April, hitting $119,050,900,000 for the first four months of 2018, according to data released today by the Census Bureau.
From January through April, the Census Bureau reports, the United States exported $42,291,500,000 in goods to China while importing $161,342,400,000.
In other words, when measured by dollar value, the United States bought about 3.8 times as much in goods from China as China bought from the United States.
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WNU Editor: This is not sustainable in the long run, and these numbers make a joke out of China's offer to buy $70 billion of U.S. goods over a period of time (not specified) if the U.S. halts the implementation of tariffs .... China Offers to Buy Nearly $70 Billion of American Goods if U.S. Halts Tariffs (The New York Times).
3 comments:
Imagine the horrors in China if their surplus disappeared, was cut by 30%, 40%? Social unrest would be terrifying to Emperor Xi and the party.
Trump realizes he has to act fast with China, otherwise the US will be totally dependent upon China for critical goods all across the economy, in short a vassal to China. We're perilously close as is.
This is why he is willing to unwind alliances with Europe, US trade imbalances have reached a critical stage.
It’s like the more hatred directed at Trump the more genius he becomes.
A little perspective; this is less to do about unsustainablility and more so do about overall strategy. The US can add plants quickly to assume some of this manufacturing but I would bet a lot of this surplus is in the lower manufacturing cost items like house hold goods and such. Not sure we have the people to hire for these jobs at a cost good enough to compete or even make a buck. Who cares; unemployment is low! What this is about is causing China to slow their expansion rate down this reduced expansion in S China sea for example. This trade surplus needs to be part of our global strategy with China.
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