Posted on 04/18/2019 7:21:04 AM PDT by SeekAndFind
The U.S. goods and services deficit with its global trading partners fell to $49.4 billion in February, its lowest level since June 2018 and well below estimates, the Commerce Department reported Wednesday.
Economists surveyed by Dow Jones expected the U.S. trade deficit in February to increase to $53.8 billion from $51.1 billion in January.
The decline was due in large part to a 28.2 percent decrease in its goods deficit with China as exports to the nation surged. Exports to China rose $1.6 billion to $9.2 billion while imports fell $1.5 billion to $39.3 billion. That brought the total deficit with China to $30.1 billion.
The report helped boost the view of Wall Street economists on first-quarter GDP growht, which now likely will come in above 2 percent.
Overall, exports for the month rose $2.3 billion to $209.7 billion, while imports increased $600 million to $259.1 billion.
On a year-to-date basis, the goods and services deficit fell 7.6 percent, or $8.3 billion, from the same period in 2018. Exports rose $11.1 billion, or 2.7 percent, while imports increased $2.8 billion, or 0.5 percent.
The move comes amid hopes that contentious trade negotiations between the U.S. and China soon will be resolved. The U.S. last year slapped tariffs on $250 billion worth of Chinese goods, prompting Beijing to institute its own duties against $110 billion worth of American imports.
(Excerpt) Read more at cnbc.com ...
Trump does what he says he will. Our nation would be so better off if we had NO career politicians. Personally, I don’t think anyone should be allowed to run for public office unless and until they have worked at least 7 years in the private sector - OR, have served 7 years in the military.
I think our supply chain from China was front-loaded for several months, expecting higher tariffs now. They were already scheduled to start
Now they have paused, temporarily.
Because a LOT was ordered ahead of time.
However, we are not selling anywhere near, what we did before this year, to China. Our EXPORTS to China are way down.
At least, they (appear) way down, thus far.
Not sure if they really are. Could be bought by some other place, for China.
Thank you, Mr. President.
“Our EXPORTS to China are way down.”
The opposite of reality.
From the article:
“a 28.2 percent decrease in its goods deficit with China as exports to the nation surged.”
“Exports to China rose $1.6 billion”
Democrats Outraged!!!
Check the data:
https://census.gov/foreign-trade/balance/c5700.html
This January exports to China: 7134.3
This February exports to China: 8433.6
Last January exports to China: 9835.3
Last February exports to China: 9806.1
Someone is incorrect here.
“Check the data:
This January exports to China: 7134.3
This February exports to China: 8433.6”
Yes, that checks out to an 18% increase in US exports to China (Month to Month), while imports from China fell 20% - producing an overall 28% drop in the US trade deficit with China (-34,469.5 to -24,760.8).
As long as exports are more than or rise faster than imports...its good
This is about the trade imbalance that is bleeding our nation
Stop waving that magic wand around, you Russia colluder, you!
“The decline was due in large part to a 28.2 percent decrease in its goods deficit with China as exports to the nation surged. Exports to China rose $1.6 billion to $9.2 billion while imports fell $1.5 billion to $39.3 billion. That brought the total deficit with China to $30.1 billion.”
This is huge!! And will be completely ignored by the MSM.
I’m told that the Chinese love American products - they are made MUCH better than what they produce.
Thank you, Mister President! Trump 2020!
Heinlein proposed 10 years in civil service or two tours of military service.
In the 50s.
Thank you. At 80+ years, I can’t do that stuff in my head anymore.
You saved me from using the calculator on my Android phone.
Check the data:
This January exports to China: 7134.3
This February exports to China: 8433.6
Yes, that checks out to an 18% increase in US exports to China (Month to Month), while imports from China fell 20% - producing an overall 28% drop in the US trade deficit with China (-34,469.5 to -24,760.8).
Part of the growth in exports was a higher than expected growth in aircraft exports. That might well reverse itself in coming months given Boeing’s issues withe the 737Max.
https://census.gov/foreign-trade/balance/c5700.html
...
Someone is incorrect here.
CNBC article must include goods and services, but provides NO link--only a statement that their source is the US Department of Commerce. I've not found a USDOC goods and services source. Has anyone on FR?
When I worked in Kuwait in the '80s. I griped to the Pakistani computer operator about some crap made in America. She said, no, EVERYTHING from America was better. Her brother bought some American sneakers, claimed bragging rights, and would take every advantage to sit down and prop his feet up on a table to show them off.
“Im told that the Chinese love American products - they are made MUCH better than what they produce.”
Don’t know if it is still true but when I was in China the best selling car was a Buick. Built in Shanghai but with US foremen and supervision.
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