by U.S. G.P.O., For sale by the Supt. of Docs., Congressional Sales Office, U.S. G..O. in Washington .
Written in English
|Series||S. hrg. ;, 99-612|
|LC Classifications||KF25 .E2 1985i|
|The Physical Object|
|Pagination||iii, 24 p. ;|
|Number of Pages||24|
|LC Control Number||86602271|
The August trade deficit was revised to a slightly wider $ billion. While the petroleum surplus of $ million was the first since , it . The goods deficit with China dropped % in August to $ billion and is down % so far this year. The U.S. and China are locked in a dispute over American allegations that Beijing uses predatory tacitcs _ including outright cybertheft _ in a drive to supplant U.S. technological dominance. August trade deficits: hearing before the Joint Economic Committee, Congress of the United States, Ninety-ninth Congress, first session, Septem Author: United States. Big Trade Deficit Is Bleeding U.S By Cerami, Charles Insight on the News, Vol. 15, No. 24, J
Figure 1 shows the U.S. goods trade balance as a percent of GDP (gross domestic product) from to From , the United States ran a trade deficit for all but three years and the trade balance averaged about – percent of GDP. Then from , it ran persistent trade surpluses that averaged about percent of GDP. The U.S. trade deficit totaled $ billion in August, a percent decline from July, as export value rose amid a decline in imports, according to data released by the U.S. Commerce Department. Economists survey by the Wall Street Journal and Reuters both expected the nation’s trade deficit to total $ billion for August. The U.S. Census Bureau reported Wednesday that the August trade deficit rose 3 percent to $ billion from July's $ (slightly revised). Both exports and imports rose, with imports rising more than exports. August exports were $ billion up $ billion from July. The United States runs a trade deficit with all its five major trading partners: China, Mexico, Japan, Germany, and Canada. America’s largest trade deficit is with China. The United .
However, the trade deficit itself is a symptom of a much greater issue- the dollar’s considerable strength and reserve status. Many developed countries don’t have a trade deficit with China. We do. The problem is more on the U.S. side due to our strong currency. The U.S. has a trade deficit with Europe, too. A trade deficit occurs when a nation imports more than it exports. For instance, in the United States exported $ trillion in goods and services while it imported $ trillion, leaving. The US trade deficit narrowed to USD billion in February of from an upwardly revised USD billion in the previous month and compared to market expectations of a USD 40 billion gap. It is the lowest trade deficit since September of Perhaps the best view of trade deficits is the balanced view. If a trade deficit represents borrowing to finance current consumption rather than long-term investment, or results from inflationary pressure, or erodes U.S. employment, then it's bad.