trade deficit: So did the imbalance in goods trade with China, Mexico and the European Union, even after Washington slapped tariffs on hundreds of billions in imports from its largest trading partners. ; The bulging deficit numbers come as U.S. and Chinese officials say they are nearing a breakthrough in talks to end their trade war, according to The Japan Times. Beijing is expected to offer to make eye-catching purchases of American agricultural goods to cut the trade deficit and please Trump. And America's merchandise trade deficit the main focus of Trump's ire surged to its highest level ever in 2018. Trump has angrily described trade deficits as a defeat for the United States, and aimed to erase them, but the Commerce Department report was bristling with records after Americans snapped up mobile phones and companies invested in computer equipment in 2018. Meanwhile, the overall trade deficit with the rest of the world, with services factored in, jumped 12.5 percent to 621 billion as both imports and exports rose to their highest levels ever, according to the report. The total U.S. goods deficit surged 10.4 percent to 891.3 billion, the highest level ever recorded.
(news.financializer.com). As
reported in the news.
Tagged under trade deficit, chinese officials topics.