-$35,952,800,000: U.S.-China Trade Deficit Set January Record

[Common]

People condemn trump for at least trying to do something about that.


The U.S. merchandise trade deficit with the People’s Republic of China set a record for the month of January, hitting $35,952,800,000, according to data released today by the Census Bureau.That was up 12.5 percent from the previous record, which was the $31,952,560,000 merchandise trade deficit (in constant January 2018 dollars) that the U.S. ran with the PRC in January 2017.
The last time the United States ran a merchandise trade surplus with China in the month of January was 1985, when the U.S. ran a $26,100,000 surplus.

In calendar year 2017, the United States ran a $375,227,500,000 merchandise trade deficit with the People’s Republic of China. That was by far the largest bilateral merchandise trade deficit the U.S. ran with any country for that year.
The second largest U.S. merchandise trade deficit in 2017 was the $71,056,500,000 deficit with Mexico. China’s one-month deficit of $35,952,800,000 in January equaled more than 50 percent (50.59 percent) of last year’s entire deficit with Mexico.
The third largest bilateral merchandise trade deficit that the U.S. ran last year was with Japan ($68,847,700,000), the fourth largest was with Germany ($64,252,000,000) and the fifth largest was with Vietnam ($38,320,000,000.)
Two of the largest bilateral trade deficits the U.S. ran last year—those with China and Vietnam—were with countries that have communist governments.
The United Kingdom was the seventh largest merchandise trading partner of the United States in 2017 when measured by the total value of both imports and exports. It was also the largest trading partner with which the U.S. ran a merchandise trade surplus in 2017.
The U.S. exported $56,328,800,000 to the U.K. during the year and imported $53,074,900,000—running an annual surplus of $3,253,900,000.
In January, the United States exported $4,779,900,000 to the U.K. and imported $4,549,000,000—running a monthly surplus of $230,900,000.
By contrast, the United States exported $130,369,500,000 in merchandise to the People’s Republic of China in 2017 and imported $505,597,100,000, resulting in the $375,227,500,000 deficit.
In January, the United States exported $9,835,300,000 in merchandise to China and imported $45,788,000,000, resulting in the $35,952,800,000 monthly deficit.
According to the CIA World Factbook, China had a population of 1,379,302,771 as of July 2017. That means that during 2017, the $130,369,500,000 in U.S. merchandise that the Chinese bought equaled about $94.52 per capita.
The United Kingdom by contrast had a population of 64,769,452 as of July 2017, according to the CIA. That means that the $56,328,800,000 in U.S. merchandise that the British bought during 2017 equaled about $869.68 per capita.
The $869.68 per capita in U.S. goods the U.K. bought in 2017 was $775.16 (or about 820 percent) more than the $94.52 per capita that the Chinese bought.



https://www.cnsnews.com/news/article...january-record

[waltky]

Granny says, "Dat's right - China's cheatin' onna sly...


Ryan on Trade Deficit: ‘The Problem Is’ China is ‘Skirting the Rules’
July 13, 2018 | When asked about the potential danger a trade deficit with Communist China could pose to the United States, House Speaker Paul Ryan (R-Wisc.) said the real problem is that China steals intellectual property and doesn’t play by the rules.

At the U.S. Capitol on Thursday, CNSNews.com asked Speaker Ryan, “The U.S. is running a record trade deficit with China -- $152 billion in the first five months of this year -- is that a problem for the United States?”


Speaker Ryan said, “I think what’s a problem for the United States is that China steals our intellectual property. I think a problem for the United States is China oversupplies commodities and dumps [them] on the foreign markets and trans-ships through third party countries.” “The problem is not that they’re playing by the rules and winning in a fair exchange,” he said. “The problem is they’re skirting the rules, and that’s not fair.”


As CNSNews.com reported on July 9, the U.S. trade deficit with China for the first five months of 2018 was $152,237,500,000 -- the United States exported $52,902,300,000 in goods to China while importing $205,139,800,000 in goods from China from January through May.


That means the dollar value of the goods the U.S. has bought from China so far this year is 3.87 times greater than the dollar value of the goods China has bought from the United States.


https://www.cnsnews.com/news/article...skirting-rules

See also:


Cramer: I think Trump is winning the China trade war, and the US stock market backs me up

Fri, 13 July 2018

• President Trump is beating China in a trade war that could soon escalate, CNBC’s Jim Cramer says.
• “I think we're winning," the "Mad Money" host argues. "The market is saying we're winning.”
• On Tuesday, the White House released a list of 10 percent tariffs on $200 billion in Chinese goods.

• President Donald Trump is beating China in a trade war that could soon escalate, CNBC’s Jim Cramer said on Friday. “I think we're winning," the "Mad Money" host argued. "The market is saying we're winning.” On Tuesday, the White House released a list of 10 percent tariffs on $200 billion in Chinese goods, following through on Trump’s threat of additional punitive measures.
  
  
  Tariffs of that magnitude, which now undergo a two-month review, would basically equal all the goods the U.S. imports from China, which promised retaliatory action and pledged to lodge a complaint with the World Trade Organization. Cramer said in a “Squawk on the Street” interview he disputes the argument that there are no winners in a trade war. “That's completely false." Look no further than the stock market for confirmation that the U.S. is getting the best of China on trade, he said.
  
  
  The S&P 500 on Friday hit a four-month high after rallying nearly 1 percent in the prior session. The strong Thursday also saw the Nasdaq close at a record high. The S&P 500, Nasdaq and the Dow Jones Industrial Average were also tracking for their second straight week of gains.
  
  
  The market’s resilience follows the U.S. and China just a week ago exchanging $34 billion worth of tariffs, in addition to the steel and aluminum duties that were already in effect.
  
  
  “The intellectual property theft is not to be trifled with,” Cramer said, referring to the Chinese practice of forcing American companies to enter into joint ventures and share their technology in order to do business in the world’s second-largest economy.
  
  
  That’s one of the reasons behind the Trump administration’s trade offensive against China. The White House also cites as unfair the $300 billion-plus annual trade deficit in goods that the U.S. has with China. On Thursday, prominent economist and former Morgan Stanley Asia chairman Stephen Roach told CNBC that Trump appears to be on track to lose in the trade war because the U.S. is hugely dependent on China "for low-cost goods to make ends meet for American consumers ... [and] to buy our Treasurys to fund our budget deficits." Those are things that can't be quantified in trade deficit numbers, Roach said.

https://www.cnbc.com/2018/07/13/cram...nfirms-it.html

[Ransom]

Thank you Common and you point out...there is no trade 'war.' There is a trade something...but it ain't no war. It's a one sided ass whoopin. The United States is being handed its' collective ass. Getting the shiit kicked out of us. Beaten like a dog in China. Road kill in the desert.


You cannot have a war...unless you're actually in the f'n war to begin with.....we're huddled in trenches getting bombarded.....by everyone on the global trade market. Sitting over here, asses in the air, and can't figure out why were being sodomized on the world market. What in the actual fck!

[Captdon]

Nonsense.