Falling China imports fuel US trade deficit decrease ~ News On The Keyboard

Kamis, 02 April 2020

Falling China imports fuel US trade deficit decrease

April 02, 2020 RAS Kamandanu No comments

The US trade deficit continued to shrink in February, fueled by falling imports from China as that country struggled with the coronavirus outbreak, the government reported Thursday. The Commerce Department report on imports and exports was compiled before the worst of the virus's economic disruptions hit the United States, where many businesses have since been forced to close causing millions to lose their jobs, and others complaining of scarce supplies. As in January, a sharp decline in imports from China played a large role in the data, after President Donald Trump escalated his confrontation with Beijing in 2019, leading to tariffs on nearly all products traded with the country.