The politically sensitive goods trade deficit with China — a focus of the Trump administration’s protectionist trade policy — decreases 28%
The surprise second straight monthly narrowing in the trade gap shows fewer imports from China and soaring aircraft exportsWind turbine blades stand ready for export at a port in Lianyungang in China's northeastern Jiangsu province, April 12 2019. US imports from China have fallen, new data show. Picture: AFP
Economists warned the trade deficit would remain elevated regardless of whether the US and China struck a trade deal that was to the White House’s liking because of Americans’ insatiable appetite for cheaper imports. The politically sensitive goods trade deficit with China — a focus of the Trump administration’s protectionist trade policy —decreased 28.2% to $24.8bn in February as imports from the world’s No 2 economy plunged 20.2%. US exports to China jumped 18.2% in February.
When adjusted for inflation, the overall goods trade deficit fell $1.8bn to $81.8bn, also the lowest since last June. “It sounds like pencils are being sharpened in order to revise up first-quarter GDP forecasts,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto.
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