China's Trade Surplus with the United States Is Growing Faster Under Trump (Hello Trump)

The Street ^ | November 8, 2017 | Edward Hardy

[cba123]

China's trade surplus with the United States slipped from a record high last month, according to official data published Wednesday, but still rose past $300 billion over the first 10 months of the year just as President Donald Trump arrives for a state visit in Beijing.

China's customs office said total exports from the word's second largest economy grew an annual 6.9% last month, slowing from the 8.1% pace recorded in September. Import growth, however, was impressively strong at 17.2%, although again slower than the 18.1% pace notched in the previous month.

The figures also reveal a 37.8% increase in China exports to the United States which, when set against an 11.1% rise in imports translates to a trade surplus of $26.6 billion. That's down from last month's record high of $28 billion but still puts the year-to-date tally at just over $300 billion - more than $12 billion head of last year's pace, according to U.S. Census Bureau data.

(please see article at link, for complete story)

[cba123]

The U.S.-China trade deficit tops $300 billion as Trump touches down in Beijing

[cba123]

https://www.thestreet.com/video/14381982/china-s-trade-surplus-with-the-united-states-is-growing-faster-under-trump.html?puc=yahoov&cm_ven=YAHOOV&yptr=yahoo

[2ndDivisionVet]

[PGR88]

China’s rise and the US emasculation of its own industry in favor of Wall Street, debt and financialization has been a 30+ year process.

[cba123]

https://www.census.gov/foreign-trade/balance/c5700.html

Have you even been in any Walmart recently?

Practically EVERYTHING they sell (other than food) is now made in China.

Also every K-Mart. Also every Target. Also every other store in America.

We need a president, to stand up for America.

Trump is (sort of) doing that, but he seems very, very, very week on China, about trade. At least thus far...

Just saying.

[cba123]

I agree.

Clinton. Bush. Obama. It has been both parties, every single year, selling out ever more.

I completely agree. I (thought) Trump would stand up for us. He doesn’t seem to have, with China yet.

He still could. But not yet.

[sparklite2]

So what? I have a trade deficit with Best Buy, and the grocery store. None of us are the worse for it.

I have some doubts about this source, anyway. Another article says ...

Experts recommend exchange traded funds for millennials as they tend to have lower fees than mutual funds and they trade like individual stocks.

Horrible, horrible advice. With an exchange traded fund, you don’t actually have a NAV (net asset value) underpinning the shares you own. The market determines what your fund share is worth, meaning you are exposed to high volatility. There’s a reason ETFs have lower fees.

[huldah1776]

Does this change when the tax bill goes into effect?

[ClearCase_guy]

These things take time. There is a lot on our plate (North Korea, EU, Middle East, GOP obstruction, etc.). Our economy is clearly doing well. In time, I expect that our trade deficit with China will be adjusted. I’m not going to complain that this hasn’t been achieved in the President’s first year.

[cba123]

I support Trump. I agree with him on practically every single issue.

But this is a HUGE issue, and he seems to be completely absent on this one.

Out economy isn’t as good as you seem to think (or as good as Trump seems to think, actually). We really, need to start to rebuild AMERICAN manufacturing.

If he doesn’t, I fear the next race will include a Democrat who is against Free Trade, and I also fear, we won’t win that election.

Trump is what we have been waiting for, for one entire generation.

Trump, do not give China a break on the trade deficit. It is now HUGE. Bring back US jobs.

Stand up.

[Alberta's Child]

The figures also reveal a 37.8% increase in China exports to the United States which, when set against an 11.1% rise in imports translates to a trade surplus of $26.6 billion.

So we've seen a 37.8% rise in imports from China to the U.S., and an 11.1% rise in exports from the U.S. to China.

Would Americans be better off if the numbers were 0.0% and 0.0%, respectively?

[Robert DeLong]

Yet Trump and his wife were granted a rare dinner at the Forbidden City, an honor that has not been bestowed on a foreign leader since the founding of the People’s Republic of China 68 years ago. Now why would they do that if they perceived him as a weak leader who is incapable of working towards closing the trade gap as he promised in his campaigning?

Apparently your weak analysis may be a tad premature.

[cba123]

Trump really needs to be for America.

I don’t care about a rare dinner. I care about American jobs.

[PGR88]

I (thought) Trump would stand up for us. He doesn’t seem to have, with China yet.

Many supply chains are so integrated, and the decay is so far along, there are either no US suppliers of many products, or manufacturers and consumers would howl or simply shut down if immediate bans or high duties were put in place.

The USA, I am afraid, is going the way of Brazil. A socialist country with socialist labor, economic, debt, and top-down statist policies that will then pass across the board decisions to nationalize and localize industries. It becomes a playground for the rich and corrupt. Bringing industry back not only means addressing china, but addressing our own job-killing policies from unions, to debt, to OSHA, to EPA, to Obamacare to tort reform

[mad_as_he$$]

“We really, need to start to rebuild AMERICAN manufacturing.”

Easy answer. The increase in the US economy got ahead of the ability to repatriate mfg. activity. Is it possible that Trump is holding trade over China's head to get them to deal with lil'kim? I suspect so.

[Alberta's Child]

American manufacturing is doing just fine. U.S. industrial production has been up almost every month this year. Just because you don't see it on the shelves of your local Wal-Mart it doesn't mean it's not happening.

How many people do you know who lost their jobs producing any of the sh!t you find in a Dollar General store?

[central_va]

You say manufacturing is up. How high up would manifesting be right now if the USA had not exported 55,000 factories and all of that production overseas? Hmmm?

[central_va]

manifesting = manufacturing

[cba123]

It is every bit as likely, that China is holding lil’kim over America’s head, to get a huge break on their massive (and still growing) trade surplus.

Your computer (all of us) was imported from China. Your shoes. Your furniture. Your air conditioner. Your tools.

Basically, everything except airplanes, cars, oil and food, is now made in China. And with cars it’s just that China has insisted all cars be made in China, to sell in China. They’re the largest car manufacturer in the world.

We seem to be becoming ever weaker, at manufacturing.

Trump really, really needs to be the guy.

Stand up for American workers, Trump.

[central_va]

Recent manufacturing job losses nationally and by state U.S. manufacturing employment was relatively stable between 1970 and 1998, and never fell below 16.5 million workers, as shown in Figure B. U.S. manufacturing employment reached a cyclical peak in March 1998. The United States lost 5.7 million manufacturing jobs between March 1998 and 2013, as shown in Table 9. The principal causes of manufacturing job loss were growing trade deficits, especially with China, Mexico, and other low-wage nations, and also the Great Recession, which was followed by a weak recovery. The Asian financial crisis of late 1997 caused the real, trade-weighted value of the U.S. dollar to rise 20 percent in value through the first quarter of 2002. What began with steady growth in U.S. manufacturing imports and job losses in the late 1990s turned into a major collapse when the U.S. economy fell into recession in early 2001. Manufacturing employment declined continuously thereafter throughout the recovery that ended in December 2007. The Great Recession caused another collapse in manufacturing employment, followed by a relatively weak recovery since 2009. Between March 1998 and December 2007, 3.9 million manufacturing jobs were lost and an additional 1.8 million manufacturing jobs were lost through 2013 (Figure B; Bureau of Labor Statistics 2014a and author’s analysis).

---

Recent manufacturing job losses nationally and by state