US trade deficit jumps by the most in 3 years

Discussion in 'Economy' started by McRocket, Sep 5, 2018.

  1. McRocket
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    McRocket VIP Member

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    'The U.S. trade deficit increased to a five-month high in July as exports of soybeans and civilian aircraft declined and imports hit a record high, suggesting that trade could be a drag on economic growth in the third quarter.

    The increase was the biggest monthly widening since 2015.

    The Commerce Department said on Wednesday the trade gap jumped 9.5 percent to $50.1 billion, widening for a second straight month. Data for June was revised to show the trade deficit rising to $45.7 billion, instead of the previously reported $46.3 billion.'


    US trade deficit jumps by the most in 3 years

    Trump and his brilliant trade war strikes again.

    Idiot.
     
  2. BlackFlag
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    BlackFlag Gold Member

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    I believe this trade deficit is a record high. MAGA
     
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  3. McRocket
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    McRocket VIP Member

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    Not the highest ever (but pretty close)...but it has shot WAY up since May and is way higher than it was when Obama left office.

    https://www.census.gov/foreign-trade/Press-Release/current_press_release/exh1.pdf

    U.S. International Trade in Goods and Services (FT900)

    Trump clearly knows dick all about trade. I said from the beginning that a trade war was a stupid idea (as did - in essence - the U.S. Chamber of Commerce and most brain boxes on Wall Street).


    Once again, I am an indy - despise both major parties.
     
    Last edited: Sep 5, 2018
  4. mudwhistle
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    mudwhistle Diamond Member

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    Yeah, it was the biggest jump since 2015. But blaming Trump is a bit premature because apparently trading partners are rethinking their stance now because of what it's costing them.
     
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  5. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    The trade deficit usually increases when our economy improves.
     
  6. Supposn
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    QUOTE="Toddsterpatriot, post: 20722601, member: 29707"]The trade deficit usually increases when our economy improves.[/QUOTE]
    ToddsterPatriot, you've never understood which is cause and which is effect. When USA's economy is more robust, sales volumes in USA's domestic markets increase; which includes sales volumes of imported goods.

    When USA's economy is less robust, sales volumes in USA's domestic markets are reduced, (which includes sales volumes of imported goods).
    (There's no particular relative proportion of import and domestic goods sales within USA's domestic markets).

    Trade deficits indicate the nation has purchased more products than it produced, and are always (more than otherwise), net detrimental to their nation's GDP and numbers of jobs.

    Respectfully, Supposn
     
    Last edited: Sep 5, 2018
  7. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    ToddsterPatriot, you've never understood which is cause and which is effect.

    Which would still put me 3 steps ahead of your understanding.

    When USA's economy is more robust, sales volumes in USA's domestic markets increase; which includes sales volumes of imported goods.

    I hate it when you agree with my claim.

    Trade deficits indicate the nation has purchased more products than it produced, and are always (more than otherwise), net detrimental to their nation's GDP and numbers of jobs.


    It was bullshit the first time you claimed it, still bullshit.
     
  8. Correll
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    Correll Diamond Member

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    I though the argument was that trade deficits don't matter. Do they matter now?


    And if so, are you putting forth an alternative policy to reduce them?
     
  9. BasicHumanUnit
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    BasicHumanUnit Gold Member

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  10. Supposn
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    Correll, absolutely yes to both of your questions.
    Trade deficits are certainly net detrimental to their nation's economy. An alternative trade policy has been advocated for at least the past 15 years.
    Refer to Import certificates - Wikipedia

    Respectfully, Supposn
     
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