US Treasury Secretary Scott Payet on the minerals of winning with Ukraine, where he pushed for a trade agreement with China and clarity of tariffs, Donald Donald’s tax discounts and other legislative issues.
US trade deficit It grew to a record level in the month of March, after companies climbed the imports of commodities in an attempt to the front operating definitions.
The Ministry of Commerce stated on Tuesday that the trade deficit increased by 14 % to 140.5 billion dollars in March, as it rose from 123.2 billion dollars in February.
The economists of LSEG had expected the trade deficit would be $ 137 billion in March.
Imports increased by 4.4 % to reach Ever From $ 419 billion in March, with goods increased by 5.4 % to 346.8 billion dollars. Exports increased by 0.2 % to $ 278.5 billion, which is also high, while goods exports increased by 0.7 % to $ 183.2 billion.
Charleston Port in Charleston, South Carolina, the United States, on Wednesday, November 3, 2021. The display crisis that prevailed in the global shipping industry may exacerbate before improving, with new challenges ranging from keeping the crew to Infurati wages (Photographer: Sam Wolf / Bloomberg via Getty Images / Getty Images)
president Donald Trump The definitions, including the 145 % fees imposed on goods imported from China as well as the “mutual” tariff plan that aims to address the bilateral trade deficit, stimulated an increase in imports as companies are looking to achieve shipments before the full tariff.
While mutual definitions were suspended on most of the commercial partners in the United States for 90 days, their duties Chinese goods It entered into force in early April and began a trade war with revenge by Beijing.
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President Donald Trump’s “mutual” tariff was based on a bilateral trade deficit. (Chip Somodevilla / Getty Images / Getty Images)
Last week, the Ministry of Commerce stated that the trade deficit reduced the record number 4.83 percentage points from GDP (GDP) In the first quarter, which led to the US economy’s shrinking at an annual rate of 0.3 % – the first decrease since the first quarter of 2022.
The formula used to calculate the gross domestic product, which measures the local economic product, offers imports because spending on imports is not part of local production, while exports produced and shipping abroad are positive in the equation.
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The definitions shook the financial markets in the first half of this year. (Photography Drew Angeler / Getty Images / Getty Images)
Economists expect the flooding of imports to recede by May, which may help in the GDP for the second quarter. However, they warn that the elevator of the decline in imports can be compensated by a decrease in exports as other countries Revenge from American goods And participate in the travel boycott.
In general, economists also reject a large -scale trade deficit as an indicator of economics health, although Trump used the trade deficit as a basis for the mutual tariff policy.
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“Installing Trump’s trade deficit is wrong,” said Ryan Young, chief economist at the Institute of Competitive Institute. “The last United States conducted a commercial surplus in 1975. In those fifty years, the American income doubled, and the quality of life has improved through almost every procedure, from the quality of health care and age to the percentage of families with air conditioning, access to the Internet, and other basics.”
“The trade deficit does not concern in one way or another for economic health. It does not harm or help,” he added.
Reuters contributed to this report.
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