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Economics Discuss trade deficit narrows unexpectedly to $30.7B at the Political Forums; Aug. trade deficit narrows unexpectedly to $30.7B By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer 2 ...

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Old 10-09-2009, 11:35 AM
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Default trade deficit narrows unexpectedly to $30.7B

Aug. trade deficit narrows unexpectedly to $30.7B

By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer 2 hrs 41 mins ago

WASHINGTON The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain, while imports fell on a big drop in demand for foreign oil.

The Commerce Department said Friday that the trade deficit declined 3.5 percent to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. Oil prices did shoot up, but the volume of shipments dropped sharply in August.

The continued rise in exports may be viewed as an encouraging sign that the global economy is starting to recover from a severe recession that began in the United States and quickly spread to other parts of the world.

For August, exports of goods and services edged up 0.2 percent to $28.2 billion, the fourth straight gain. The strength reflected higher sales of American farm products including soybeans and wheat, and increases in sales of autos and related parts, industrial engines and telecommunications equipment.

Through the first eight months of this year, the trade deficit is running at an annual rate of $357 billion, about half of last year's $695.9 billion imbalance. That huge decline reflects the recession that sharply dampened demand for imported goods.

Despite the August improvement, economists expect the deficit to rise in coming months on the back of a rebounding U.S. economy, which will start importing more foreign products. But that impact will be dampened somewhat by rising exports as American manufacturers benefit from a revival in the global economy.

The deficit with China dipped slightly to $20.2 billion, down 0.9 percent from July. Through August, the deficit with China totals $143.7 billion, down 15.1 percent from last year's record pace. Even with the small improvement, trade tensions have been rising between the two economic powers with China denouncing a move by the Obama administration last month to impose punitive tariffs on imports of Chinese tires.

Imports dropped 0.6 percent to $158.9 billion, reflecting a 5.7 fall in petroleum imports to $21 billion. A big decrease in the volume of shipments offset a sharp rise in prices. The average price of a barrel of imported crude oil rose to $64.75, up from $62.48 in July and the highest since last November.

The drop in oil imports in August offset a jump in foreign-made autos and parts, which rose 8.6 percent to $14.6 billion. Economists believe the government's Cash for Clunkers' sales incentives for buyers to trade in their old cars for more fuel efficient vehicles helped drive the increase.

Imports of autos and related parts had jumped even more in July, as plants owned by General Motors and Chrysler ramped up production. Those companies had curtailed operations in May and June as they struggled to emerge from bankruptcy protection.

Both companies, as well as foreign automakers with plants in the U.S., make use of foreign-made auto parts in their U.S. manufacturing operations.
Aug. trade deficit narrows unexpectedly to $30.7B - Yahoo! News
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Old 03-07-2017, 03:53 AM
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Angry Re: trade deficit narrows unexpectedly to $30.7B

Could cause the loss of American freedom and prosperity...

US trade deficits are a threat to national security: Navarro
Tuesday 7th March, 2017 | WASHINGTON: The Trump administration's top trade advisor said on Monday (Mar 6) US trade deficits are a threat to national security that could cause the loss of American freedom and prosperity.
Quote:
Outlining an unapologetically aggressive trade policy, Peter Navarro, director of the White House National Trade Council, accused economists and the media of ignoring the risk posed by trade deficits and embracing an "antiquated view of the world." Navarro singled out China and Germany in particular, saying that "in the real world of fixed exchange rates, managed floats and outright currency manipulation," the US trade deficit cannot adjust as economists say it should in theory.

That leads to large and persistent trade deficits which leave the US open to foreign takeover, he said in a speech to the National Association for Business Economics. "Suppose it is not a benign ally buying up our companies, our technology, our farmland and our food supply chain, and ultimately controlling much of our defense industrial base," he warned. "Rather it is a rapidly militarizing strategic rival, intent on hegemony in Asia and perhaps world hegemony."


US President Donald Trump signs an executive order alongside officials including National Trade Council Advisor Peter Navarro (3rd R) in the Oval Office of the White House in Washington, DC.

That could lead to the loss of a "broader cold war for our freedom, prosperity and democracy, not by shots being fired but by cash registers ringing," and ultimately even to loss of a "hot war." He said China, which accounts for nearly US$350 billion of the US trade deficit, about half the total, is engaged in a "conscious strategy" to dramatically increase investment around the world, including in the United States and in Germany, where it is buying one company a week.

Navarro said the Trump administration will focus on tough actions aimed at "eliminating currency manipulation and other forms of trade cheating," which will create growth and jobs. "One of the major goals of the Trump administration is to reclaim all of the supply chain and manufacturing capability that would otherwise exist if the playing field were level." He railed against China for manipulating its currency and for rules that include requiring companies that want to operate in China to enter into joint ventures with national firms.

'AGGRESSIVE POLICIES'
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Old 03-07-2017, 03:54 PM
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Default Re: trade deficit narrows unexpectedly to $30.7B

I am hearing hints that by 2019 some sort of financial/economic trouble will bring the whole ding bat Country to it's knees.

So far just RUMORS but then rumors can come true, right?
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Old 03-07-2017, 05:11 PM
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Default Re: trade deficit narrows unexpectedly to $30.7B

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Originally Posted by mlurp View Post
I am hearing hints that by 2019 some sort of financial/economic trouble will bring the whole ding bat Country to it's knees.

So far just RUMORS but then rumors can come true, right?
I heard the same thing about 2015, and 2017.. so pick your year.

People are making or loosing money from those predictions. Alan Greenspan once said the market was experiencing " irrational exuberance" and he was right, but it lasted for 5 more years before the market broke.

My bet is your Crystal ball is just as good as most of the others out there. We won't know the day till it gets here..

Regards, Kirk
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Old 03-07-2017, 07:38 PM
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Default Re: trade deficit narrows unexpectedly to $30.7B

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Originally Posted by mlurp View Post
Aug. trade deficit narrows unexpectedly to $30.7B

By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer 2 hrs 41 mins ago

WASHINGTON The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain, while imports fell on a big drop in demand for foreign oil.

The Commerce Department said Friday that the trade deficit declined 3.5 percent to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. Oil prices did shoot up, but the volume of shipments dropped sharply in August.

The continued rise in exports may be viewed as an encouraging sign that the global economy is starting to recover from a severe recession that began in the United States and quickly spread to other parts of the world.

For August, exports of goods and services edged up 0.2 percent to $28.2 billion, the fourth straight gain. The strength reflected higher sales of American farm products including soybeans and wheat, and increases in sales of autos and related parts, industrial engines and telecommunications equipment.

Through the first eight months of this year, the trade deficit is running at an annual rate of $357 billion, about half of last year's $695.9 billion imbalance. That huge decline reflects the recession that sharply dampened demand for imported goods.

Despite the August improvement, economists expect the deficit to rise in coming months on the back of a rebounding U.S. economy, which will start importing more foreign products. But that impact will be dampened somewhat by rising exports as American manufacturers benefit from a revival in the global economy.

The deficit with China dipped slightly to $20.2 billion, down 0.9 percent from July. Through August, the deficit with China totals $143.7 billion, down 15.1 percent from last year's record pace. Even with the small improvement, trade tensions have been rising between the two economic powers with China denouncing a move by the Obama administration last month to impose punitive tariffs on imports of Chinese tires.

Imports dropped 0.6 percent to $158.9 billion, reflecting a 5.7 fall in petroleum imports to $21 billion. A big decrease in the volume of shipments offset a sharp rise in prices. The average price of a barrel of imported crude oil rose to $64.75, up from $62.48 in July and the highest since last November.

The drop in oil imports in August offset a jump in foreign-made autos and parts, which rose 8.6 percent to $14.6 billion. Economists believe the government's Cash for Clunkers' sales incentives for buyers to trade in their old cars for more fuel efficient vehicles helped drive the increase.

Imports of autos and related parts had jumped even more in July, as plants owned by General Motors and Chrysler ramped up production. Those companies had curtailed operations in May and June as they struggled to emerge from bankruptcy protection.

Both companies, as well as foreign automakers with plants in the U.S., make use of foreign-made auto parts in their U.S. manufacturing operations.
Aug. trade deficit narrows unexpectedly to $30.7B - Yahoo! News
some of that will change as gas continues to rise since the new king
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Old 03-07-2017, 08:01 PM
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Default Re: trade deficit narrows unexpectedly to $30.7B

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some of that will change as gas continues to rise since the new king
What makes you think gas prices will rise?
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Old 03-07-2017, 08:10 PM
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Default Re: trade deficit narrows unexpectedly to $30.7B

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some of that will change as gas continues to rise since the new king
"King"--a snowflake's slang word for a president who instills fear in him, or her.
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Old 03-07-2017, 08:13 PM
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Default Re: trade deficit narrows unexpectedly to $30.7B

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"King"--a snowflake's slang word for a president who instills fear in him, or her.
not me. i never had that clown phobia
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Old 03-08-2017, 05:02 AM
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Default Re: trade deficit narrows unexpectedly to $30.7B

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Originally Posted by 300 H and H View Post
I heard the same thing about 2015, and 2017.. so pick your year.

People are making or loosing money from those predictions. Alan Greenspan once said the market was experiencing " irrational exuberance" and he was right, but it lasted for 5 more years before the market broke.

My bet is your Crystal ball is just as good as most of the others out there. We won't know the day till it gets here..

Regards, Kirk
, , there was a better way to say the same thing about earlier year champ..

You allow things said to get below your skin and then keep attacking, grow up!
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