U.S. Trade Deficit Widened in June for First Time in Four Months

The U.S. trade deficit grew in June for the first time in four months as imports increased and the value of shipments overseas declined against a backdrop of escalating tensions with America’s trading partners. The gap widened 7.3 percent to $46.3 billion from a revised $43.2 billion in the prior month, Commerce Department data showed Friday. The June figures capped an otherwise positive quarter for U.S. trade, as a narrowing of the deficit contributed the most to economic growth since 2013. While tariffs and the threat of retaliatory levies prompted a pickup in shipments of soybeans and some other materials, American exports of capital goods, vehicles and consumer goods declined in June, indicating trade may be of less help to the economy going forward.

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Those tariffs must be working... Oh, just a moment.. The US is on track for the highest trade deficit in 10 years.

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Simply, you have a trade deficit soon as you sell something to someone else who doesn’t buy from you.

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But, wait. Few days ago President Trump announced that in second quarter report, U.S. trade deficit dropped by more than $50 billion

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3 minutes ago, damirUSBiH said:

But, wait. Few days ago President Trump announced that in second quarter report, U.S. trade deficit dropped by more than $50 billion

How about the budget deficit? How many billions are we paying the farmers - 12 billion! Is this calculated into the numbers of that statement?

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(edited)

9 minutes ago, damirUSBiH said:

.... U.S. trade deficit dropped by more than $50 billion

I'm a worried about this sudden burst in growth,(if it is true) it could symbolize the peak of the economy before recession. And I found - It hard to call the economy successful as 44 Million people are in poverty and 22m Americans are uninsured, this nation has the highest level of income inequality since 1928, and 57% of Americans say they can't afford a $500 emergency.

Edited by rainman

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The rich become richer, the poor become poorer....

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What's the USA's net import of crude oil in million BPD?

Did I also hear the US Government have just rolled back vehicle fuel efficiency targets?

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17 hours ago, NickW said:

What's the USA's net import of crude oil in million BPD?

Did I also hear the US Government have just rolled back vehicle fuel efficiency targets?

Nick, the last I read it was about 3 million and yes they have rolled back the fuel efficiency targets

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1 hour ago, PaulG said:

Nick, the last I read it was about 3 million and yes they have rolled back the fuel efficiency targets

So the USA's net annual import bill for Crude is approximately $65bn against an annual  $700bn deficit

 

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