19:27 GMT07 July 2020
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    Deficit Don’s Dilemma

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    Amid Washington’s ongoing trade dispute with Beijing, a Wednesday press release from the US Department of Commerce’s Bureau of Economic Analysis revealed the nation’s trade deficit swelled to a $621 billion high in 2018 under President Donald Trump.

    Deficit Don’s Dilemma

    It may be time for "Tariff Man" to go into hiding for a while after learning the US trade deficit increased from $552.3 billion in 2017 to $621 billion last year.

    "The deficit with China increased $43.6 billion to $419.2 billion in 2018. Exports decreased $9.6 billion to $120.3 billion, and imports increased $34.0 billion to $539.5 billion," added the bureau's Wednesday report.

    This new data comes shortly after Trump's February 25 announcement delaying the 10 to 25 percent increase in tariffs on billions of dollars in Chinese imports. Though the US-China 90-day truce agreed upon at the G-20 summit had expired, Trump's tweet insisted a summit between nations' two leaders is in the works.

    Let's just hope Tariff Man doesn't come out of hiding to make an appearance!

    Related:

    US Commerce Department Reports $621 Billion Trade Deficit, Highest in 10 Years
    US B-52 Bombers Fly Over Disputed South China Sea Islands - Reports
    'US-China Trade Dispute Hurting US Pork Producers' - Pork Producers Council
    Trump's Cancellation of Additional China Tariffs Just a Delaying Move - Prof.
    China's Defence Spending to Grow by 7.5% to $177.6Bln in 2019 - Draft Budget
    Tags:
    deficit, trade deficit, export, imports, tariff war, tariffs, G20 summit, US Department of Commerce, Donald Trump, China, United States
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