China Demands Tariffs Rollback as US Trade Gap Shrinks
The U.S. deficit in the trade of goods with China narrowed by 1.1% to $31.3 billion in October.
The U.S. deficit in the trade of goods with China narrowed by 1.1% to $31.3 billion in October.
Economist: "It's hard to see anything other than further weakness in exports over the coming months."
The goods deficit with China dropped 3.1% in August to $31.8 billion and is down 11.4% so far this year.
The impact of the tariffs so far in overall trade numbers appear to be a decline in activity.
The surplus with the U.S. was little changed but stood at $28B, a level that might fuel American pressure.
The gap between the goods and services the U.S. buys and what it sells abroad fell to $55.2B in June.
Imports of U.S. goods fell 31.4% from a year earlier to $9.4B, while exports declined 7.8% to $39.3B.
The deficit with Mexico rose 18.1% to a record $9.6B, and the gap with China widened to $30.2B.
The U.S. trade deficit in goods and services is at $205.4B this year, up from $201.3B in January-April 2018.
The deficit in goods with China dropped 16.2% to $20.7 billion, the lowest level since March 2014.
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