https://www.politico.com/story/2018/02/06/trump-trade-disaster-325749 --- The U.S. trade deficit increased more than 12 percent in 2017, to $566 billion — its highest level since 2008, according to figures released on Tuesday by the Commerce Department. --- I'm not blaming Trump for the actual trade deficit, being that such complex economic matters are something a president has little control over. I am blaming him for declaring that he could and would reduce the trade deficit. And I am blaming his brainless followers for falling for such an obvious lie.
"Mexico will pay for the wall ..." "I only hire the best people ..." "I will be too busy to play golf ..." "I have a plan to fix ObamaCare ..." There have been so many of them that people have become immune. Of course, we are about to get a hundred, "but ... but ... Obama ..." posts. Let's try to measure Trump on his own merits, shall we?
Yeah, and that shaved 1.13 points of 4th quarter GDP. I think it boils down to a rigged system that allowed foreign goods to compete more effectively against US goods, even in the US market place. So when folks had more money they were willing to spend, it purchased imports. Lowering the corporate tax rate was intended to help, but, lets wait for the results to come in.
So you're not blaming the President, you are blaming the President. That makes perfect sense. You already admitted trade is a complex issue. Through policy, inept legislation and regulation, the US gave away it's manufacturing advantages. New policies, new regulations, new tax policies, have all begun to reverse this result. As the economy gets rolling, the trade deficits will likely increase, and then reverse, as domestic activity will start to eat away at those numbers.
You don't need Trump to fix the trade deficit for you. You can do that as individuals. Buy American. Go on holiday in America.
Is Trump finally getting a reality check on trade and China? The president has been too easy on the Chinese. It's ugly: This past year, America's overall trade deficit in goods and services grew by 12 percent to $566 billion. The trade gap hasn't been this wide since back in 2008. The country responsible for the lion's share of this deficit is you know who: China. The U.S. trade gap with China rose to $375 billion, up from $347 the year before – an 8-percent increase. Doing the math, China accounts for over 60 percent of our trade imbalance. This is a particular problem for President Trump, especially because, to date, his fire-and-brimstone rhetoric on the campaign trail regarding trade has not been adequately matched by his actions as president. To Trump's credit, he has assembled a formidable America First "trade troika" consisting of secretary of commerce Wilber Ross, Jr.; White House trade adviser Peter Navarro; and Robert Lighthizer, U.S. trade representative. This is a team that is not about to lie down for the globalists, the "free" traders, or the Wall Street Journal. The president has also slapped a 30% tariff on solar panels and washing machines (washing machines?) aimed essentially at China. Trump's trade team continues to urge him to impose additional tariffs on steel and aluminum and to be more aggressive in punishing China for its continual theft of U.S. intellectual property. What has likely stayed Trump's hand up until now from ending this stalemate is North Korea. That is, the president hoped that if he went easy on China regarding its mercantilist trade policies, China would then cooperate with the U.S. in resolving the North Korea situation. This might not have been a bad move on Trump's part, given that Kim Jong-un is a certifiable loon with nuclear weapons. As things now stand, the world is using the U.S. to absorb its excess labor via immigration and its products, often made with factories transplanted from our heartland and U.S. technology. This status quo has pummeled our middle class. It can't be allowed to continue. Trump, this is why you are President! http://www.americanthinker.com/blog...y_check_on_trade_and_china.html#ixzz56jUpp7Eu
All the working folks who got bonuses and raises because of the Trump tax cuts are spending their money on stuff. Bad news for libs.
When the US economy increases, it requires increased imports. That is something Trump is working on. But to say he broke his promise when the trade deficit has increased because of increased demand that can't be met by current US manufacturing is completely dishonest.