The US Treasury Secretary, Scott Bosent, pushed tax cuts and other top legislative topics on a trade -off trading with China and tariff clarity.
US Fraction In March, it reached a high record after jobs increased their imported goods in an attempt to take preliminary tariffs.
The Ministry of Commerce reported on Tuesday that the 14 % trade deficit rose to $ 140.5 billion in March and increased from $ 123.2 billion in February.
Economists polled by LSEG had predicted that the trade deficit would be $ 137 billion in March.
Imported 4.4 % to increase to one All the time Of the $ 419 billion in March, 5.4 % increased to $ 346.8 billion. Exports rose 0.2 % and reached $ 278.5 billion, as well as a high record, while commodity exports reached $ 183.2 billion.
Charleston Port in Charleston, South Carolina, the United States, Wednesday, November 3, 2021. The supply crisis that can make the global transport industry worse before it gets better, with new challenges from conservation crew to inflation wages (Photographer: Sam Wolf / Bloomberg via Getty Images / Getty Images)
President Donald Trump Tariffs, including the 145 % tax imposed on imported goods from China, as well as his “cross -tariff” tariff program aimed at handling bilateral business deficits, increased imports because companies sought to create pre -tariff transport.
While mutual tariffs have been suspended in most US business partners for 90 days, tasks in Chinese goods It was implemented in early April and began a trade war with Beijing's retribution.
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Donald Trump's “mutual” tariffs were based on bilateral business deficit. (Chip somodevilla / Getty Images / Getty Images)
Last week, the Ministry of Commerce reported that trade deficit reduces the record of 4.83 percent of the points GDP (GDP) (GDP) In the first quarter, which resulted in a US economy contractor at an annual rate of 0.3 % – the first decline from the first quarter of 2022.
The formula used to calculate GDP, which measures domestic economic production, reduces imports because the cost of importing is not part of domestic production, while exports produced in the United States and overseas transport are positive in the equation.
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Tariffs shook financial markets in the first half of this year. (Photo by Drew Anger / Getty Images / Getty Images)
Economists expect the floods will not reach the water by May, which can help GDP in the second trimester. However, they warn that the elevator of importing imports can be offset by reducing exports like other countries Retribution against American goods And get involved in travel sanctions.
In general, economists also dispel the business deficit as an indicator of the health of an economy, although Trump used business deficit as a basis for his mutual tariff policy.
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“Trump's business deficit is a mistake,” said Ryan Young, a senior economist with a competitive company. “The last America passed the trade surplus in 1975. In that 50 years, the US income has almost doubled, and the quality of life has improved almost every measure, from the quality of health care and life expectancy to the percentage of air conditioning households, internet access and other requirements.”
“The business deficit for economic health is by no means or another,” he said. “They neither hurt nor help.”
Reuters was involved in this report.