'The U.S. trade deficit in November reached the highest level in almost six years as an increase in imports exceeded a gain in shipments overseas, Commerce Department data showed Friday.' https://www.bloomberg.com/news/arti...eficit-balloons-to-widest-in-almost-six-years https://www.census.gov/foreign-trade/Press-Release/current_press_release/exh1.pdf I thought Trump said he would fix the trade deficit? Well, guess what, it is MUCH worse then it has been for years.
The results of Trump's booming economy are immediate in that more goods are purchased. The tax break just passed and will take time to take effect.
China exploits child labor... China's trade surplus with U.S. up 13 percent Jan. 12, 2018 -- China's trade surplus with the United States increased 13 percent in 2017 despite warnings from U.S. President Donald Trump about exerting regulatory pressure against the world's second-largest economy.
The Dollar closed for the weekend at the lowest - 90.974 - in OVER THREE YEARS! https://www.bloomberg.com/quote/DXY:CUR So far, under Trump, the dollar has tanked almost 10%...and still falling. I realize most Americans have not a clue what this means and rarely follow it. But this is BAD news for consumers and for inflation. Especially for lower income Americans.
Its going to be hard to change this. We could sell them natural resources and lower the surplus, but I have trouble thinking of anything else they would want that is US produced in large numbers; especially with the costs of our goods.
I think the real issue with the trade imbalance with China is should changing it be a priority, if so how do we change it under the circumstances, and is it really a bad thing. People are just seeing an imbalance when there do happen to be pro's with the situation, and it could be argued they outweigh the con's. I personally do not want to make cheap goods for low wages and be switched, or like I said we could exploit and sell our natural resources to them which is about all they want from us currently.
Not really. I don't see an inflation spike under Trump: Bloomberg wins Fake News of the week Bloomberg broke a story just as the New York Stock Exchange began trading on Wednesday: China Weighs Slowing or Halting Purchases of U.S. Treasuries The story turned out to be the latest in a string of Fake News reports by a news organization owned by Mike Bloomberg, whose opposition to President Trump knows no bounds The financial news service on February 12, 2017, reported: America’s Biggest Creditors Dump Treasuries in Warning to Trump It was Fake News which Bloomberg News has never retracted. Zero Hedge had a profane but hilarious take on that report 11 months ago: "What in the actual F*** are they talking about? Rates are near ALL-TIME record lows. America is the primary market for debt issuance -- the envy of the world and they make it seem like we're struggling to raise capital to fund our over bloated and ridiculous surplus spending. "But this week's Bloomberg Slander against Trump -- aka, BS against Trump -- hurt the market for a few hours, until people realized it was just Bloomberg being Bloomberg. From that piece of slime story: China added to bond investors’ jitters on Wednesday as traders braced for what they feared could be the end of a three-decade bull market. Senior government officials in Beijing reviewing the nation’s foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries, according to people familiar with the matter. The news comes as global debt markets were already selling off amid signs that central banks are starting to step back after years of bond-buying stimulus. Yields on 10-year Treasuries rose for a fifth day, touching the highest since March.China holds the world’s largest foreign-exchange reserves, at $3.1 trillion, and regularly assesses its strategy for investing them. It isn’t clear whether the officials’ recommendations have been adopted. The market for U.S. government bonds is becoming less attractive relative to other assets, and trade tensions with the U.S. may provide a reason to slow or stop buying American debt, the thinking of these officials goes, according to the people, who asked not to be named as they aren’t allowed to discuss the matter publicly. China’s State Administration of Foreign Exchange didn’t immediately reply to a fax seeking comment on the matter. So it reported China was reversing its bond buying policy -- even though no one in China was saying that. Why did Bloomberg run the story without getting China's side of the story? The next day, Agence France Presse reported: China on Thursday denied a report that it may slow or cease its purchases of US Treasury bonds, which sent the dollar falling.Bloomberg News reported Wednesday that officials reviewing China's foreign-exchange holdings had recommended slowing or halting purchases of US Treasuries, citing people familiar with the matter."We think this story could be quoting a mistaken source or it could also be a piece of fake news," the State Administration of Foreign Exchange said in a statement on its website. No apology. No retraction. No credibility. This is the Dark Ages of American journalism, not because of Trump but because of frauds like Mike Bloomberg. http://donsurber.blogspot.com/2018/01/bloomberg-wins-fake-news-of-week.html#more
