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Trade Shock: U.S. Trade Deficit in Goods
Jumps 17.8% to Record $125.3 billion

Original Article

Posted By: Black Conservative Voice, 4/28/2022 7:52:14 AM

Economists had expected the U.S. trade deficit in goods to narrow to $105.0 billion in March after growing to a record-high $106.3 in February. That turned out to be very far off-base. The Census Bureau said Wednesday that the deficit in goods jumped 17.8 percent to a record $125.3 billion in March. That broke February’s record. As the U.S. economy recovered rapidly from the pandemic and the Federal Reserve has begun raising interest rates, the dollar has strengthened against foreign currencies. The dollar’s strength against foreign currencies makes imports relatively cheaper.

Comments:

Every freaking day Biden is destroying something else, there won't be a country left to fix by the time he's done.

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Reply 1 - Posted by: Ida Lou Pino 4/28/2022 9:28:30 AM (No. 1140597)
Actually, folks - - there is no such thing as a "trade deficit." A "deficit" occurs when something isn't paid for - - or when phony money is created out of thin air by the goobermint. All international trade is PAID FOR. No one gives anything away or creates fake money to pay for it. The difference between imports and exports is NOT a deficit. Imports are good because American buyers aren't idiots - - they're getting good value for their money. Exports are also good - - because foreign buyers pay a satisfactory amount of real money to Americans for their goods and services. The real number to look at - - is Trade Benefit - - which is the sum of imports plus exports. The higher that number is - - the better off everyone is - - because everyone is getting good value for their money and/or their efforts. End of economics lesson for today.
3 people like this.

Reply 2 - Posted by: Starboard_side 4/28/2022 11:31:36 AM (No. 1140748)
I would have to presume a whole bunch of that "surprise" increase amount is due to buying oil from foreign countries when we didn't need to. Of course, we could be exporting our oil and natural gasoline to our friends in Europe. Our trade deficit is the dollar value of what we import versus the dollar amount of what we export. Most of what we export are low-value items like scrap materials (by far the largest volume number of containers) and ag products. If someone buys an airplane it dwarfs thousands and thousands of containers worth of cargo.
3 people like this.

Reply 3 - Posted by: thomthomp 4/28/2022 11:51:19 AM (No. 1140776)
Gee, if the expert economists are surprised, what do we need them for?
3 people like this.

Reply 4 - Posted by: billa57 4/28/2022 12:16:49 PM (No. 1140796)
Remember when economists freaked out about a 10 billion dollar trade deficit in a YEAR! Our bought and paid for politicians have sold us out.
3 people like this.

Reply 5 - Posted by: DVC 4/28/2022 1:20:03 PM (No. 1140866)
Stop buying things made in China. Just STOP. I have.
3 people like this.

Reply 6 - Posted by: DVC 4/28/2022 2:25:36 PM (No. 1140925)
Excellent point #2. We were exporting energy, now importing, hits both sides of the ledger. Unfortunately, gas pumps aren't marked "US oil" and "Russian oil" so we can choose. Buying American goods will help keep the remaining American growing and manufacturing companies in business.
1 person likes this.

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