Mexican Media Brands
U.S. Trade Deficit Rose to 9-Year High in 2017
The U.S. trade deficit for goods and services grew 12% to $556 billion last year, its highest level since 2008, according to the Dept. of Commerce.
#economics
Share
The U.S. trade deficit for goods and services grew 12% to $556 billion last year, its highest level since 2008, according to the Dept. of Commerce.
The department reports that the country’s global trade imbalance in December rose 5% to $50.4 billion. The deficit was led by shortfalls with China ($34 billion) and the European Union ($17.2 billion). The U.S. deficits for the full year also were led by China ($375 billion) and the EU ($151 billion).
The U.S. trade deficits last year with Mexico and Canada—a focal point in talks to renegotiate the North American Free Trade Agreement—grew to $71 billion and $18 billion, respectively. The imbalance in December was $6.1 billion with Mexico and $1.4 billion with Canada.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.