Posted on 05/05/2021 3:22:03 PM PDT by Roman_War_Criminal
The U.S. trade deficit rose in March to a record $74.4 billion, driven by demand from American consumers for goods and services from overseas, the Commerce Department reported on Tuesday.
The deficit with China increased $6.7 billion to $36.9 billion in March, while the gap with Mexico increased $1.6 billion to $8.4 billion in March. The deficit with the European Union decreased $2.1 billion to $16.9 billion.
Overall, imports increased 6.3% to $274.5 billion, driven mainly by shipments of consumer goods like toys, furniture, phones and vehicles. Exports also increased, by 6.6%, to $200 billion. Industrial and capital goods led the increase.
The deficit figure was in line with expectations of economists.
(Excerpt) Read more at usnews.com ...
How much does importing Marxism cost?
BS, It is driven by the immediate return to China First by Stealing Joe and his sleazy Ho, the Globalist are doing their Hauil Mary, first Fauci Flu now Destroy Manufacturing and American Jobs.,
No biggie. It’s not as if the USA has any debt.
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Oh! Never mind.
So where else did the borrowers and spenders think all their “stimulus” was going to increase spending?
Of course (a) increase in consumer goods spending, and (b) the Q1 2021 first quarter GDP growth. and (c) the increase in import deficit with China were all very close to each other just above 6%. Why? They were all three related.
That and booming inflation is what you got for all the “stimulus”.
If you have never lived abroad, you might believe this. However the yan exchange rate since December is a better clue as to the driver of our debt. A shrinking dollar is exponential.
Deceptive headline.
Not driven by consumers demands for IMPORTS, but by consumer demands for GOODS. The politicians are the ones who drove manufacturing from the United States.
There is a lag time of months between policy changes and trade deficit reports.
This March report was just the initial little bit of the turn in trade flows, resulting from Biden Admin policies. The coming months will reflect the scale of the trade disaster underway.
The current situation, which will be seen in the trade reports coming out in the next few months, is an historic surge in imports from China - akin to the historic surge of illegal immigrants across the Southern border, also due to Biden Admin policies.
Shipping capacity is now so jammed with cargo from China to the USA, that it is spiking the Global cost to ship containers.
What has happened to policy, that has either not been reported, or has been poorly reported? What has happened to tariffs? We will have to watch the tariff revenues when they are eventually reported, to see if tariffs are still being imposed in practice or if some giant loophole was opened, to pay back the ChiComs for their election support.
They will claim that it is just due to a post-COVID economic revival, but the reality will likely be big gains in market share for the Chicoms, which longer term will be reflected in the withering of American manufacturing. Back to the Leftist plan to defeat America through industrial policy, just as they are back to plan to dilute the electorate and drain the system of resources with floods of low end immigrants.
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