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1. U.S. Posts Record Annual Trade Deficit
I expect the media lackeys of the left will now write voluminous columns panning Trump's economic policies, but they would be all wrong.
I expect the media lackeys of the left will now write voluminous columns panning Trump's economic policies, but they would be all wrong.
2. While Trump too plays fast and loose with trade deficit talk, around here we like to focus on the truth to maintain a wholesome perspective. And the truth is the increase in trade deficit is a direct result of Trump's pro-growth economic policies.
3. “The fact that the U.S. economy is doing very well is the main reason the trade gap has risen,” said Kenneth Rogoff, a professor at Harvard University and former chief economist at the International Monetary Fund.
4. The wider trade deficit is only to be expected when the U.S. economy is growing faster than the rest of the world, as people with higher incomes in the U.S. buy more imported goods. That's how economies work.
5. Our exports grew too (by 6.3%). It's just that the imports grew even more (by 7.5%). As long as both imports and exports are growing and the relative differential is relatively small and sustainable, which at these levels it is, it's all good.
The End.
The End.
