综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Global EditionASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Policies

Highest US trade deficit in 9 years reported

By Chen Weihua in Washington | China Daily | Updated: 2018-02-08 10:43
Share
Share - WeChat
Employees manufacture electric vehicles at the BYD Coach and Bus factory in Lancaster, California.[Photo/Agencies]

The United States saw its largest trade deficit in nine years in 2017, jumping 12.1 percent to $566 billion.

Its trade deficit with China increased by $28.2 billion to $375.2 billion, according to the US Commerce Department's report released on Tuesday covering the country's international trade in goods and services.

In December alone, the US deficit grew by 5.3 percent to $53.1 billion. But the US-China trade deficit declined 13 percent in December due to a 7.5 percent jump in US exports and a 7.6 percent fall in imports.

The Commerce Department's report shows that much of the US trade deficit resulted from strong import demand in the country.

The US has been running a constant trade deficit since 1976, with trade deficits with 99 trading partners in 2016.

A surging economy and the tax cut bill that came into effect in January have both contributed to increasing the US trade deficit, complicating US President Donald Trump's promise to bring it down.

"The larger US trade deficit is absolutely not the fault of China or Mexico," said Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics.

Hufbauer, former deputy assistant secretary for international trade and investment policy of the US Treasury from 1977 to 1979, said the large deficit simply reflects the strong dollar in the first half of 2017 and the strong US economy.

"If Trump once again blames trade agreements, other countries should tune him out," he told China Daily on Tuesday.

The Trump administration has repeatedly talked about fair and reciprocal trade as a way to blame the US' trade partners for its trade deficits.

Derek Scissors, a resident scholar at the American Enterprise Institute, said that Trump has never made demands or given details of what an acceptable trade imbalance should be.

"A truly fair and reciprocal trade will not have zero trade imbalance. That doesn't make any sense," he said on Tuesday.

Scissors said that US consumers have much higher purchasing power than any other consumers in the world. "Of course we will run a trade deficit," he said. "The US economy is much greater than, much richer than and growing faster than the Mexican economy. How is it that Mexico can buy as much from the US as the US buys from Mexico? That obviously doesn't make any sense."

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
南平市| 策勒县| 靖安县| 凭祥市| 抚宁县| 阜南县| 讷河市| 河池市| 图片| 盐城市| 宜兴市| 广昌县| 吕梁市| 丰宁| 西华县| 莒南县| 隆德县| 唐河县| 武乡县| 镶黄旗| 屏东县| 河间市| 秀山| 景宁| 河东区| 彰武县| 宜昌市| 太湖县| 永吉县| 固始县| 嘉定区| 三门峡市| 廉江市| 丰县| 安宁市| 庆安县| 鄢陵县| 获嘉县| 襄城县| 木里| 丹阳市|