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Tag Archives: Trade deficit

What Went Wrong? How Trump Lost His ‘Easy to Win’ Trade War with China

Aerial view of large container port. Cranes.

BLOOMBERG, JANUARY 11, 2021 After shrinking for two straight years in 2015 and 2016, China’s total shipments grew each year after Trump took office. (BLOOMBERG) – U.S. President Donald Trump famously tweeted that “trade wars were good, and easy to win” in 2018 as he began to impose tariffs on about $360 billion of imports from China. Turns out he was wrong on both …

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U.S. Trade Gap Widened to Second-Biggest on Record in November

Port seen at dawn light. Cranes. Containers

BLOOMBERG, JANUARY 7, 2021 Goods-trade gap increases to $86.4 billion, biggest yet | Services surplus narrows to smallest since August 2012 By Eric Martin for Bloomberg – The U.S. trade deficit widened to the second-largest on record in November as merchandise imports reached a more than one-year high in the midst of the holiday shopping season, causing the shortfall in goods …

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Did we win the trade war?

Container terminal activity at Yusen Terminals.

REUTERS, NOVEMBER 2, 2020 Trump Changed How the U.S. Trades, But Not Necessarily as Intended WASHINGTON (Reuters) – U.S. President Donald Trump’s “America First” trade policy torched a 70-year consensus on trade liberalization, drew a harder line against China’s state-driven economic model and erected new tariffs on imported steel and aluminum, alienating allies. Trump is touting his efforts to protect …

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Container lines expect U.S. import binge to lose steam

Container ships at the Port of Oakland

REUTERS, OCTOBER 26, 2020 LONDON/LOS ANGELES (Reuters) – Surging shipments into the United States are fueling record high freight costs and logjams at seaports, but transportation executives say the rally will lose steam with a second wave of COVID-19 restrictions on the cards. Container shipping companies, which move goods for customers including Amazon.com AMZN.O and Walmart WMT.N, got stung late last year and …

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Sources: Port of Los Angeles working non-stop as imports continue to surge in October

Container terminal. Port of Los Angeles

PortandTerminal.com, October 19, 2020 LOS ANGELES – The surge of imports into the Port of Los Angeles shows no sign of letting up in October after a record-breaking September. September loaded imports at the port increased by 17.3% to 471,795 TEUs compared to the previous year. Ninety-seven cargo vessels arrived in September, with no canceled sailings. It marks the busiest …

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Ships wait to unload at Port of Los Angeles as imports boom

Port of Los Angeles with a hazy background of smoke from the wildfires raging along the west coast of the United States.

REUTERS, OCTOBER 14, 2020 LOS ANGELES (Reuters) – Incoming cargo to the Port of Los Angeles is surging as businesses restock depleted inventories and retailers prepare for an early holiday season, the executive director for the nation’s busiest seaport said on Wednesday. Workers unloaded 471,795 20-foot equivalent units (TEU) of imports in September, 17% more than the year earlier, marking …

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Canadian Trade Unexpectedly Drops in August – Montreal Port Strike Cited

Shipping containers in stacks. Birds in flight.

BLOOMBERG, OCTOBER 6, 2020 Setback indicates recovery may have lost momentum sooner | Deficit narrowed slightly but missed median forecasts By Shelly Hagan for Bloomberg – Canadian trade with the rest of the world dropped in August on lower car exports, suggesting the recovery may be losing steam sooner than economists had predicted. Merchandise exports fell 1% in August, after jumping …

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U.S. companies on an inventory buying binge

Container stacks. Bridge. Truck

Goods trade deficit rises; inventories increase REUTERS, SEPTEMBER 29, 2020 WASHINGTON (Reuters) – The United States’ trade deficit in goods increased in August, with imports surging as businesses rebuild inventories which were depleted early in the COVID-19 pandemic, suggesting trade could be drag on economic growth in the third quarter. Still, the widening in the goods trade gap reported by …

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U.S. trade deficit grows to $64B, highest in 12 years

Container terminal

PortandTerminal.com, September 4, 2020 Despite bloody trade wars and a renegotiation of NAFTA with Canada and Mexico, America’s trade deficits remain stubbornly high. WASHINGTON – After narrowing in the early months of the year due to coronavirus shutdowns, the gap between what the United States buys from the rest of the world and what it sells widened to its highest level …

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