According to Money CNN, President Donald Trump often cites the U.S. trade deficit as a sign that America is losing to China, Mexico and other countries on trade. He uses it to justify renegotiating trade deals and slapping tariffs on other countries’ products.
And the gap with Trump’s two favorite rhetorical trade targets, Mexico and China, is getting bigger. The overall trade deficit with Mexico is up 11% this year, and the deficit with China is up 7%.
A trade deficit doesn’t mean the United States is losing money to China or Mexico, which is how Trump sometimes framed it during his presidential campaign. It means American businesses and consumers bought more goods and services from Mexico or China than those countries’ consumers bought from American businesses.
Trade experts say the deficit is not an appropriate way to value a trading relationship. The Trump administration disagrees.
Source: Money CNN
more recommended stories
Cenote divers in Tulum must be regulated by Civil Protection
Tulum, Q.R. — The Directorate of.
86 percent progress reported in the Mérida – Chetumal highway repaving works
Mérida, Yucatán (November 25, 2020).- The.
Lucas de Galvez and San Benito markets will close until 9 PM
MÉRIDA.- In response to the requests.
CDC warns Americans against traveling to Mexico due to COVID-19
People who become infected with the.
Are hurricanes spurring more Central American migration?
SAN PEDRO SULA, Honduras (AP) —.
If approved by Cofepris, Pfizer vaccine will arrive in December: Marcelo Ebrard
On Tuesday, November 24th, Marcelo Ebrard,.
Illegal logging, a problem afflicting the beekeeping industry in Yucatan
“It is urgent to update the.
Diego Maradona dies in Argentina
Argentine soccer player Diego Armando Maradona.
Tren Maya starts hiring construction workers in Yucatan
Maxcanú, Yucatán (November 24, 2020).- In.
Progreso will have the largest shipyard in Latin America
The project, result of an agreement.