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The US trade deficit expanded in December 2017

The US trade deficit expanded in December 2017

The trade gap widened in December, growing 5.3 percent to $53.1 billion.

If we put aside services, the trade balance with the rest of the world reached a deficit of 796.1 billion (+ 8.1%).

Throughout his campaign and time in office, Trump has argued that he would wipe out deficits created by America's signing of bad trade deals, which he says have hurt workers and businesses to the benefit of the nation's top trading partners.

The nation's trade gap in goods and services jumped 12.1 percent to $566 billion in 2017, up $61.2 billion from 2016, the highest level since the deficit hit $708.7 billion in 2008, the Commerce Department said Tuesday.

The US trade gap surged to its highest level in almost a decade during President Donald Trump's first year in office - more unwelcome economic news after Wall Street suffered historic losses, and setting up a test of confidence for his administration. The president recently placed tariffs on imported solar panels and washing machines, sparking concern the US may prompt trade wars. -China trade deficit increased 8.1 percent to a record $375.2 billion previous year.

NTSB chairman says Amtrak crash in SC could have been avoided
CSX controls the dispatching of all trains, including directing the signal systems which control the access to sidings and yards. Hospital officials said most of those injured have already been discharged. "The hospital I'm now in is filled", Pettaway said.

USA merchandise exports to China and Mexico in 2017 were the highest on record - and so were imports. Imports, however, rose by more: 2.5 percent to $256.5 billion.

The numbers come after Trump claimed in his State of the Union address that the USA had "finally turned the page on decades of unfair trade deals that sacrificed our prosperity and shipped away our companies, our jobs, and our nation's wealth". Net exports subtracted 1.13 percentage points from gross domestic product growth, which registered an annualized rate of 2.6 percent in the October-December period.

For the full year, total USA exports rose 5.5 percent to $2.33 trillion, while imports climbed 6.7 percent to a record $2.9 trillion.

"Right now, the same trade policy that Trump attacked ferociously and promised to speedily replace is still in place", said Lori Wallach, director and founder of Public Citizen's Global Trade Watch.

The U.S. economy has run trade deficits for decades, during both economic expansions and recessions.


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