Wednesday August 12, 2020

'Tariff man' fails to cut ballooning US trade deficit

Trump had made deficit reduction one of his central promises during his election campaign and he committed specifically and repeatedly to a deficit reduction plan

8th March, 2019
Donald Trump at a trade meeting with China's Vice Premier Liu He. Pic: Getty

Few politicians have ever promised at the level of Trump did, combined with such arrogance and ignorance. Now the chickens of those outlandish promises are coming home to roost. The latest trade figures show that the US trade deficit for 2018 soared to the highest level for ten years - a massive $621 billion. In goods alone, the gap was a record $891 billion.

Within those figures, the deficit with the EU and with China rose too; in...

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