ZCZC
BCN-26
US-TRADE-DEFICIT
U.S. trade deficit in goods edges up in October
WASHINGTON, Nov. 30, 2018 (BSS/Xinhua) – The U.S. trade deficit in goods
reached 77.2 billion U.S. dollars in October, up by 1.3 percent from the
previous month, the U.S. Department of Commerce has said.
Exports of goods for October were 140.5 billion, 0.8 billion less than
September exports, while imports of goods for October were 217.8 billion, 0.2
billion more than September imports, according to an advance report released
by the department on Wednesday.
October’s trade deficit in goods expanded by 14 percent from the same
month last year.
U.S. goods and services deficit widened to a seven-month high in September
as imports hit a record high and exports bounced back, the department
reported earlier this month.
The goods and services deficit climbed to 54 billion dollars in September
from a revised 53.3 billion dollars in August, registering the biggest trade
gap since February.
Economists believe the country’s long-time trade deficit resulted from its
macroeconomic policies, and raising tariffs against imports is not the right
way to reduce the deficit, which is likely to increase further because of the
planned fiscal stimulus.
A strong U.S. dollar has also contributed to the widening of the trade
deficit.
BSS/XINHUA/HR/1210