In December, the U.S. trade deficit widened to $59.8 billion from a revised $50.3 billion in November. Economists surveyed by Briefing.com had projected a December deficit of $57.8 billion. The December deficit is the widest monthly deficit since October 2008 during the global financial crisis. The annual U.S. trade deficit grew to $621 billion in 2018 for a 10-year high. The annual deficit in goods and services grew by $68.8 billion or 12.5%.
The annual merchandise trade deficit with China climbed to a record $419 billion in 2018.
The numbers certainly increase the pressure on the Trump administration to do something dramatic. In my opinion, the administration’s trade negotiators have two options. …
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