by Axios | Updated on 12.6.18
The U.S. trade deficit reached $55.5 billion in October — the highest level in a decade — as imports rose 0.2% to $266.5 billion and exports fell 0.1% to $211 billion, the AP reports.
Why it matters: President Trump has made the trade deficit a signature grievance of both his campaign and presidency, slapping tariffs on aluminum, steel and $250 billion worth of Chinese goods. But the latest figures from the Commerce Department show the deficit with China has actually risen 7.1% to a record $43.1 billion, with U.S. soybean exports to China dropping 46.8% as a result of retaliatory tariffs.
Written by Axios
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It was thought, not too long ago, that Republicans were the ‘fiscally responsible‘ party. Since taking office #45 has just about ‘executive ordered’ the US into bankruptcy. #45 has told thousands of lies; he is a man without honor. #45 has treated women and continues to treat women, in the worst way; he is a man with no respect. #45 sides with Putin, Jong-un, Saudi Arabian Prince Al Saud over U.S. Intelligence; he is a traitor. #45 believes those who are not white, who speak with accents, who are poor, are beneath him; he is a racist. #45 steals from taxpayers to fulfill his every whim; he is a thief. The time is now, impeach this criminal before the U.S. becomes another bad business deal made by #45!
Funny how republicans and their constituents want to take credit for everything good but refuse to shoulder even an ounce of blame when it’s not. It’s been two years of Trump, maybe he thinks Russia will bail us out like they did for him.
This happens every time we have a Republican President. They give gift-jobs to cronies, spend ungodly amounts of money on the military, destroy our relationships with other countries, crucify the middle class, destroy the poor—and then walk away like walking from a fart in church leaving everyone else to clean up their mess while blaming them for causing it.
Thanks, IQ45 and GOP.
Remember Tariff Man is responsible for this
Nice going, you stupid Orange Fascist! Get rid of this moron. NOW!
Highest trade deficit in a decade thanks Donald Trump, thanks Republicans.
The debt is out of control, look and see what has happened to other countries that have gone bankrupt. This would be catastrophic if this happened to the US. We used to be the world leader in so many areas we are now going to also be in financial ruin. We need to rein in the spending and balance the budget. This is not yet another company that Trump can just declare bankruptcy and walk away from. We need action before it becomes to late.
The USA has spent the last 60 years changing to a service based economy. In that time large manufacturers stopped caring about quality and only caring about profits. American works also stopped caring about the quality of their work and started only caring about their preserved status. You can’t blame other nations for our own problem. You also can not say it is because other nations have cheap labor. Germany does not have cheap labor and they have the strongest export economy in Europe and that is because the still believe in making quality products.
Good plan GOP - steal from our children and the elderly to stuff our pockets with cash - let’s destroy the planet on our way out too!
Trade deficits are not what the president thinks they are, he has no idea what economics are. The debt deficit is something that everybody should be worrying about because that’s going up too.
Thanks trumpinator-in-chief!😩 what a trader (traitor) YOU ARE😩
And trump could care less. He says he won’t be in office by the time it’s a problem anyway. True. Plus he will be a ward of the state. His room and board will be free to him when he goes to jail.
Well I think the republicns used up their Trump card. Wonder how many get out of jail cards they have left? All joking aside Trump is nothing but a scam artist.
What. Did you expect his belligerent attitude would make any one want to do more than smother our economy. He has been bankrupt so many times already. Now he is going to do the same to us. Stop this mad man.
U.S. trade deficit is always the highest whenever we have a republican president.
Wow! Republican policies performing exactly like educated, intelligent and experienced professionals said they would. Republicans/ Conservatives have no solutions. Conservatives are the problem, NOT Government as Republicans will propagandize.
Trade deficits are meaningless. I'm quoting Milton an Rose Freedman, from his best seller, Free to Choose. They we're both some of the most well respected economists of the 20th century.
Give it time. Of course it will be ugly until we can get a fair trade deal. Plus can we believe what the media feeds us?
I’m not sure I believe this. President Trump has been good for our country. We also know that the previous president was the biggest spender than all previous presidents.