Exports to China spiked 13.7 percent as imports fell by 9.2 percent, pushing the U.S.' trade deficit with China down by 15.7 percent to $26.4 billion. The trade deficit with the European Union narrowed by 20.2 percent $13.1 billion. President Trump has long referred to the trade balance as a scorecard of sorts for how the trade war is progressing.
: Can you say cherry picking ? Not sure what they're looking at. I do see an improvement from a year ago when it was the worst it had been since what, 2006 ?
Looks like it's getting back in to at least Obama levels. But hard to factor in all the subsidies that it required (yes I know, revenue too).
Note: Because of what I've heard some of you saying in the past, let me remind you, as long as the graph is negative, down is bad up is good.
I think it's important to keep in mind that a booming American economy with rising wages makes Americans spend, and while I don't have data to back it up, I have a gut feeling that discretionary income tends to get spent on importing foreign goods - lots and lots of cheap shit from China that were so addicted to.
All else being equal, this is likely to hurt the trade imbalance because it sure ain't gonna increase our exports.
So, just looking at the trade balance doesn't elucidate the whole story. This is a somewhat good reason for the trade imbalance to be going the wrong direction.
https://www.foxbusiness.com/markets/trade-deficit-smallest-october-2016?fbclid=IwAR29eyg-onwW6b7Xx7Mha_CeEZQDwLOMkrK7gZWJVwc2RIkDUHdUSQbcIus