Trump promised to shrink the trade deficit. Instead, it exploded.
https://www.washingtonpost.com/business/economy/trump-promised-to-shrink-the-trade-deficit-instead-it-exploded/2019/03/05/35d3b1e0-3f8f-11e9-a0d3-1210e58a94cf_story.html?utm_term=.002bf516b368
The Commerce Department said Wednesday that despite more than two years of President Trumps America First policies the United States last year posted a $891.2 billion merchandise trade deficit, the largest in the nations 243-year history.
The trade gap with China also hit a record $419 billion, underscoring the stakes for the presidents bid to reach a deal with Chinese President Xi Jinping as soon as this month.
The departments final 2018 trade report, which was delayed by the partial government shutdown, showed that the United States bought far more in foreign goods than it sold to customers in Africa, Asia, Europe and North America. The shortfall topped the 2006 record of $838.3 billion, set as the housing bubble was peaking, and marked the third consecutive year of rising deficits.
A broader measure of the nations trade performance, which includes the services sector, showed a $621 billion deficit. That reflected a deterioration of more than $100 billion from the figure Trump inherited from president Barack Obama.