The trade war is wreaking havoc on the entire American economy and is already resulting in failure. The U.S. trade deficit rose in April again, which was the exact “problem” that the tariffs were supposed to fix.
The U.S. trade deficit in goods widened slightly in April, rising to a seasonally adjusted $72.1 billion from $71.9 billion, the Commerce Department said Thursday in an “advanced” look at the data. This trend was previously noticed as well. In October of 2018, the deficit was $55.5 billion. It is now widened by over $16 billion in less than a year!
Pretty much every category of exports, and every category of imports, fell in April. Exports fell 4.2% as imports dropped by 2.7%. Automobile exports cratered 7.2%, while capital-goods exports fell by 6.5%. Compared with a year ago, exports have dropped by 3.6% as imports have only fallen by 0.9%.
Entire segments of the U.S. economy are struggling because of the trade war, as evidenced by recent downbeat surveys from purchasing managers of big manufacturing and service-sector companies. This trade war has proven to be an economic disaster for both businesses and consumers alike.
“The buildup in [first quarter] inventories might in part be weighing on import flows, but the export sag fits in with the stall we’ve seen in U.S. manufacturing production over the past several months,” said Avery Shenfeld of CIBC World Markets. According to Bloomberg, the widening trade gap is the latest indication that Trump’s tariff war with China is weighing on business decisions. Foreign purchasers may also be balking at U.S. exports due to the strong dollar, while Chinese buyers could be continuing to pare shipments from America.
Exports and imports of goods account for about three-fourths of America’s total trade; the U.S. typically runs a deficit in merchandise trade and a surplus in services. Thursday’s trade figures cover goods only. The Commerce Department will release the full April report on international trade June 6, which will include services and more details on merchandise shipments.
The Dollar Tree will now be called Dollar Tree Plus. 1.25 on up.
A Powder puff.. Panicking after the first bullet zings over our head!
Calm down! Confrontations up to and including war require a willingness to make sacrifices, keep ones mind on the long game, have intestinal fortitude, and realizing that your already dead if you lose.
I don’t think you have any of those characteristics!
Being dependent on trade with Communist China “is wreaking havoc on the entire American economy”.
Well said Anonymous. Short term thinkers (using the word loosely) don’t understand that the administration is trying to create EQUAL trade wherein the American citizen is not continually asked to bend over.
China, like many other foreign nations, have abused trade with the USA for many, many years. Look to politicians that served during previous administrations as the culprits. They failed to negotiate in the interests of AMERICAN CITIZENS.
“The trade war is wreaking havoc on the entire American economy and is already resulting in failure. The U.S. trade deficit rose in April again, which was the exact “problem” that the tariffs were supposed to fix.”
FALSE. THEY ARE NOT A FAILURE. THEY HAVE ONLY RECENTLY TAKEN FULL EFFECT BECAUSE TRUMP PAUSED THE TARIFFS TO SHOW GOOD FAITH IN HIS NEGOTIATIONS. THAT WAS A MISTAKE.
The trade war is wrecking havoc on the multinational companies who systematically transferred their American production to China for the past 30 years. The chickens are now coming home to roost and Apple and other NWO Multinationals like them will pay the price as Apple’s revenue is expected to drop 25% now that the TARIFFS have taken effect as the best example. It serves them right for the economic treason they perpetrated upon Americans. Remember that Apple has $4 trillion offshore which represents a fraction of the wealth stolen from the American Middle Class.
The blip increase in the trade deficeit reflects the aggressive forward purchases that importers have made in an attempt to circumvent the price increases that they would otherwise have to pass along to consumers. This happened initially when TRUMP first imposed TARIFFS. Now that the pause is over it has happend again.
Give the TARIFFS time to impact a fragile Chinese economy & financial system, say another six months without a pause or repreive of any kind. Then the real impact of TARIFFS on the Multinationals & China will manifest .
The trade Deficeit represents a transfer of American wealth to China. Imagine what the Trade Deficeit would be by now if TRUMP had not taken any steps to mitigate the flow of American wealth to China ???
The NWO moved systematically for thirty years under Bush, Obummer, & Bush to weaken the USA economically & militarily. Trump is reversing those trends. That reversal cannot happen without some pain or overnight.
Take the long view and America will be great again. Otherwise you may as well learn Mandarin. 🙂
Am I the only one getting these ‘Major Alert’ pop-ups? They are a major pain in the ass.
Yep, I do but not many other people because this site is dying.
In criminal lore, there are at least a couple of ways of tracking illicit money flow.
A. Any consequential amount is deemed suspicious, no matter who or for what reason.
B. If it is parsed into many small payments, so as to avoid threshhold.
C. If the same, numerical figure exits one node, and enters another.
I have a conspiracy theory. I know that numbers are supposed to be coincidences. When plebs are counting, they are coincidences. Not when authorities are counting.
The same numerical figure will generally appear at both sides of these political debates.
Now, tell me one or the other is the bad guy.
It’s like saying that Freddie Mac and Fanny Mae are in literal competition.
Pardon my misplaced post about money.
I was going to say that many of the members who left were police and military.
not any more MG. Use a good adblocker like AdBlock Plus, Easy AdBlock, AdBlocker Ultimate (I use all 3) and/within an add-on configurable browser like Firefox, Opera, Brave, TOR…..
Here is a word problem —
A. Companies were paid to move to China.
B. China gave export subsidies.
Who paid more money.
Trade war at the same time as massive sanctions against multiple countries may be problematic.
This is not surprising, given the business record of the spoiled child “working” out of the white house… The US reminds more and more of a girl I used to know who having been mistreated by her boyfriend decided to give the bad boys a try…and got gonorrhea and an unwanted pregnancy for her trouble… It’s almost funny… Tragic…
Trump is a retard.
In memory of Tiananmen square
Yes, let’s whine and buy more cheap shit from the chinks. Hell, I just saved $12!