The US goods trade deficit narrowed significantly in June to $86 billion, the lowest level in nearly two years, as imports fell sharply, reflecting subdued domestic demand and the lingering effects of trade policy uncertainty. The unexpected contraction, reported by the Commerce Department on July 29, is expected to provide a meaningful boost to second-quarter gross domestic product (GDP) figures, due for release on July 30. Economists had forecast the goods trade gap would widen to $98.2 billion, but instead it shrank by 10.8 per cent from May’s revised $96.4 billion level. Imports dropped $11.5 billion, or 4.2 per cent, to $264.2 billion, led by a steep 12.4 per cent plunge in consumer goods. Industrial supplies, including crude oil and non-monetary gold, also fell by 5.5 per cent.<h2>Trade gap shrinks, but details signal caution</h2>While the narrowing trade deficit is expected to add significantly to GDP after dragging growth down in Q1, the underlying data revealed some red flags. Imports of food, motor vehicles, and other categories all declined, with only capital goods registering a modest 0.6 per cent increase. Goods exports also dipped by 0.6 per cent to $178.2 billion, weighed down by an 8.1 per cent decline in industrial supplies exports, though offset slightly by gains in capital goods and consumer goods.Economists at Goldman Sachs and JPMorgan have revised their Q2 GDP forecasts upward, with the Atlanta Fed now expecting a 2.9 per cent growth rate, up from its previous 2.4 per cent estimate. Wholesale and retail inventories, which also factor into GDP calculations, rose by 0.2 per cent and 0.3 per cent, respectively, in June. However, excluding motor vehicles, retail inventories were flat, a potential drag on the final output figure.<h2>Labour market softens as job openings and hiring decline</h2>Trade-related uncertainty has also seeped into the labour market. The Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) showed job openings fell by 275,000 in June to 7.437 million, with hiring dropping by 261,000 to 5.204 million. Accommodation and food services, a sector hard-hit by both tariffs and immigration policy shifts, saw job openings decline by 308,000 and hiring drop by 106,000.The separation rate in that sector rose as concerns mount over immigration crackdowns affecting legal work status. “Some increased churn in leisure hospitality in the last few months may already reflect factors like premature exits ahead of changes,” Citigroup economist Veronica Clark told Reuters. Despite the slowdown in hiring, layoffs remained stable at 1.604 million, suggesting employers are still hesitant to let workers go after years of tight labour supply.The Conference Board also reported that consumer perceptions of job availability worsened significantly in July, with the share of respondents viewing jobs as hard to get rising to the highest level in over four years. Consumer plans to purchase big-ticket items like vehicles and homes also declined.<h2>Fed expected to hold rates as growth picture remains mixed</h2>Despite a likely strong Q2 GDP headline, the broader economic outlook remains uncertain. The Federal Reserve is expected to hold interest rates steady at 4.25–4.50 per cent following its policy meeting on July 30, resisting political pressure to cut borrowing costs further. While smaller trade deficits are poised to boost GDP temporarily, ongoing volatility from tariffs, inventory challenges, and a weakening labour market suggests the recovery may not yet be on solid footing.

Economists had forecast the goods trade deficit would widen to $98.2 billion, but instead it shrank by 10.8 per cent from May’s revised $96.4 billion level. Imports dropped $11.5 billion, or 4.2 per cent, to $264.2 billion, led by a steep 12.4 per cent plunge in consumer goods. 

The US goods trade deficit narrowed significantly in June to $86 billion, the lowest level in nearly two years, as imports fell sharply, reflecting subdued domestic demand and the lingering effects of trade policy uncertainty. The unexpected contraction, reported by the Commerce Department on July 29, is expected to provide a meaningful boost to second-quarter gross domestic product (GDP) figures, due for release on July 30. Economists had forecast the goods trade gap would widen to $98.2 billion, but instead it shrank by 10.8 per cent from May’s revised $96.4 billion level. Imports dropped $11.5 billion, or 4.2 per cent, to $264.2 billion, led by a steep 12.4 per cent plunge in consumer goods. Industrial supplies, including crude oil and non-monetary gold, also fell by 5.5 per cent. Trade gap shrinks, but details signal caution While the narrowing trade deficit is expected to add significantly to GDP after dragging growth down in Q1, the underlying data revealed some red flags. Imports of food, motor vehicles, and other categories all declined, with only capital goods registering a modest 0.6 per cent increase. Goods exports also dipped by 0.6 per cent to $178.2 billion, weighed down by an 8.1 per cent decline in industrial supplies exports, though offset slightly by gains in capital goods and consumer goods. Economists at Goldman Sachs and JPMorgan have revised their Q2 GDP forecasts upward, with the Atlanta Fed now expecting a 2.9 per cent growth rate, up from its previous 2.4 per cent estimate. Wholesale and retail inventories, which also factor into GDP calculations, rose by 0.2 per cent and 0.3 per cent, respectively, in June. However, excluding motor vehicles, retail inventories were flat, a potential drag on the final output figure. Labour market softens as job openings and hiring decline Trade-related uncertainty has also seeped into the labour market. The Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) showed job openings fell by 275,000 in June to 7.437 million, with hiring dropping by 261,000 to 5.204 million. Accommodation and food services, a sector hard-hit by both tariffs and immigration policy shifts, saw job openings decline by 308,000 and hiring drop by 106,000. The separation rate in that sector rose as concerns mount over immigration crackdowns affecting legal work status. “Some increased churn in leisure hospitality in the last few months may already reflect factors like premature exits ahead of changes,” Citigroup economist Veronica Clark told Reuters. Despite the slowdown in hiring, layoffs remained stable at 1.604 million, suggesting employers are still hesitant to let workers go after years of tight labour supply. The Conference Board also reported that consumer perceptions of job availability worsened significantly in July, with the share of respondents viewing jobs as hard to get rising to the highest level in over four years. Consumer plans to purchase big-ticket items like vehicles and homes also declined. Fed expected to hold rates as growth picture remains mixed Despite a likely strong Q2 GDP headline, the broader economic outlook remains uncertain. The Federal Reserve is expected to hold interest rates steady at 4.25–4.50 per cent following its policy meeting on July 30, resisting political pressure to cut borrowing costs further. While smaller trade deficits are poised to boost GDP temporarily, ongoing volatility from tariffs, inventory challenges, and a weakening labour market suggests the recovery may not yet be on solid footing.

Economists had forecast the goods trade deficit would widen to $98.2 billion, but instead it shrank by 10.8 per cent from May’s revised $96.4 billion level. Imports dropped $11.5 billion, or 4.2 per cent, to $264.2 billion, led by a steep 12.4 per cent plunge in consumer goods.&nbsp;

US merchandise trade deficit narrows in June, fuelling Q2 GDP optimism

Amid tariff wars, the US trade deficit soared to a record 140.5 billion dollars in march, its highest monthly gap on record. The deficit was fuelled by a historic spike in imports ahead of sweeping tariffs announced by Donald Trump. &nbsp;<o:p></o:p>
According to the commerce department data, imports rose 4.4 per cent to an all-time high, while exports remained nearly flat. The biggest driver: A jump in consumer goods, led by pharmaceutical imports, most of which came from Ireland. &nbsp;<o:p></o:p>
The surge reflects businesses rushing to stockpile goods before tariffs kicked in on April 2, dubbed &ldquo;liberation day&rdquo; by the white house.<o:p></o:p>
<h2 class="MsoNormal">Economic impact &amp; tariff fallout<o:p></o:p></h2>
The trade imbalance had real consequences. The US economy contracted 0.3 per cent in the first quarter, marking the first decline in three years. Imports grew at their fastest pace since 2020&mdash;up 41 per cent over the quarter&mdash;cutting 5 percentage points from GDP growth. &nbsp;<o:p></o:p>
Imports of capital goods rose $3.7 billion, driven by demand for computer accessories. Auto imports climbed $2.6 billion, while industrial supply imports fell $10.7 billion, due to lower shipments of gold and silver. &nbsp;<o:p></o:p>
Economists warn that the front-loading of imports may reverse in the coming months, potentially shifting pressure back onto domestic production and prices.<o:p></o:p>
Meanwhile, the US dollar has weakened against key global currencies since the start of 2025. From December through march, 92.5 billion dollars in US savings moved into offshore gold and silver, signalling growing concern over economic policy. &nbsp;<o:p></o:p>
Imports from China fell to their lowest level in five years, impacted by a 145 per cent tariff that took effect in April. With no new trade deals announced and reciprocal tariffs from key partners on hold for just 90 days, economists warn that the worst effects of the trade war may still be ahead.<o:p></o:p>
(With inputs from the agencies)<o:p></o:p>

Business & Economy: The US trade deficit soared to a record 140.5 billion dollars in march, its highest monthly gap on record. The deficit was fuelled by a historic spike in imports ahead of sweeping tariffs announced by Donald Trump.

Amid tariff wars, the US trade deficit soared to a record 140.5 billion dollars in march, its highest monthly gap on record. The deficit was fuelled by a historic spike in imports ahead of sweeping tariffs announced by Donald Trump. According to the commerce department data, imports rose 4.4 per cent to an all-time high, while exports remained nearly flat. The biggest driver: A jump in consumer goods, led by pharmaceutical imports, most of which came from Ireland. The surge reflects businesses rushing to stockpile goods before tariffs kicked in on April 2, dubbed “liberation day” by the white house. Economic impact & tariff fallout The trade imbalance had real consequences. The US economy contracted 0.3 per cent in the first quarter, marking the first decline in three years. Imports grew at their fastest pace since 2020—up 41 per cent over the quarter—cutting 5 percentage points from GDP growth. Imports of capital goods rose $3.7 billion, driven by demand for computer accessories. Auto imports climbed $2.6 billion, while industrial supply imports fell $10.7 billion, due to lower shipments of gold and silver. Economists warn that the front-loading of imports may reverse in the coming months, potentially shifting pressure back onto domestic production and prices. Meanwhile, the US dollar has weakened against key global currencies since the start of 2025. From December through march, 92.5 billion dollars in US savings moved into offshore gold and silver, signalling growing concern over economic policy. Imports from China fell to their lowest level in five years, impacted by a 145 per cent tariff that took effect in April. With no new trade deals announced and reciprocal tariffs from key partners on hold for just 90 days, economists warn that the worst effects of the trade war may still be ahead. (With inputs from the agencies)

US trade deficit soars to $140.5 billion in march, hits a record high

The United States on Wednesday posted its worst trade deficit figures in the last six months, as exports saw its biggest fall since April 2020.&nbsp;

The latest trade figures, released by the US Commerce department, are&nbsp;a matter of worry for policymakers in the world's largest economy, which is already bracing for a recession later this year.

As per the data, the trade deficit in April widened to a six-month high, as the shortfall grew by $14 billion to $74.6 billion.&nbsp;Data for March was revised to show the trade gap narrowing to $60.6 billion instead of the previously reported $64.2 billion.

Total exports fell 3.6 percent, the most since April 2020, to $249 billion in April 2023. That was the time when Covid-19 pandemic began to raise its ugly head across the world.&nbsp;

The decline in the exports of capital goods and consumer merchandise played a big role in the weak April data.&nbsp;

On the other hand, US imports rose 1.5 percent to $323.6 billion in April this year. Increase in the imports of motor vehicles and parts, industrial supplies, cell phones spiked the US import bill.&nbsp;

Moreover, the US government revised the goods trade data from 2018 while the trade services figures were revised from 2017.

While the decline in exports indicate that the world economy is slowing down, the rise in imports reflect that consumer spending in the United States has remained resilient. &nbsp;

Economists now expect that trade could chop off as much as 2.5 percentage points from gross domestic product this quarter. That is unless imports reversed course, a tall order given the persistent strength in domestic demand.&nbsp;&nbsp;

Meanwhile, the United States' trade deficit with China, the world's second-largest economy, continued to widen in April. The deficit with China widened to $24.2 billion from $22.6 billion in March.

(With agency inputs)

The United States on Wednesday posted its worst trade deficit figures in the last six months, as exports saw its biggest fall since April 2020. The latest trade figures, released by the US Commerce department, are a matter of worry for policymakers in the world's largest economy, which is already bracing for a recession later this year.

The United States on Wednesday posted its worst trade deficit figures in the last six months, as exports saw its biggest fall since April 2020. The latest trade figures, released by the US Commerce department, are a matter of worry for policymakers in the world's largest economy, which is already bracing for a recession later this year. As per the data, the trade deficit in April widened to a six-month high, as the shortfall grew by $14 billion to $74.6 billion. Data for March was revised to show the trade gap narrowing to $60.6 billion instead of the previously reported $64.2 billion. Total exports fell 3.6 percent, the most since April 2020, to $249 billion in April 2023. That was the time when Covid-19 pandemic began to raise its ugly head across the world. The decline in the exports of capital goods and consumer merchandise played a big role in the weak April data. On the other hand, US imports rose 1.5 percent to $323.6 billion in April this year. Increase in the imports of motor vehicles and parts, industrial supplies, cell phones spiked the US import bill. Moreover, the US government revised the goods trade data from 2018 while the trade services figures were revised from 2017. While the decline in exports indicate that the world economy is slowing down, the rise in imports reflect that consumer spending in the United States has remained resilient. Economists now expect that trade could chop off as much as 2.5 percentage points from gross domestic product this quarter. That is unless imports reversed course, a tall order given the persistent strength in domestic demand. Meanwhile, the United States' trade deficit with China, the world's second-largest economy, continued to widen in April. The deficit with China widened to $24.2 billion from $22.6 billion in March. (With agency inputs)

More bad news for the US economy: Trade deficit widens to 6-month high

The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar weighed on exports. Watch this video to know more.

World Business Watch | US trade deficit rise 5.4 per cent to $78.2 billion in October

The US trade deficit jumped to a record high in March amid roaring domestic demand, which is drawing in imports, and the gap could widen further as the nation's economic activity rebounds faster than its global rivals.

World Business Watch: US trade deficit hits record $74.4 billion in March

The US trade deficit surged to a record high in February as the nation's economic activity rebounded more quickly than that of its global rivals and could remain elevated this year as well, with massive fiscal stimulus expected to spur the fastest growth in nearly four decades.

World Business Watch: US trade deficit hits record high in February

<a href="https://www.wionews.com/world/worlds-biggest-trade-deal-to-be-delayed-to-2020-draft-asean-statement-259667">America's trade deficit</a> continued to tumble in November, hitting its lowest level in three years as imports of crude oil, computers and industrial supplies fell off sharply, the government reported Tuesday.

That put the United States on track for the first drop in the annual deficit in six years, likely reflecting the damage to international commerce from the US-China trade conflict and a sluggish global economy.

Lowering the deficit has been a chief goal of <a href="https://www.wionews.com/world/all-is-well-so-far-so-good-says-trump-after-irans-missile-strikes-at-us-bases-in-iraq-272818">President Donald Trump</a>'s aggressive trade policy but whether the decline will be sustained remains in question.

The drop should help lift GDP growth for the final months of 2019 but falling imports are not necessarily a good sign, as it can be a sign of a weakening domestic economy.

The trade gap - the difference between what the <a href="https://www.wionews.com/world/us-criticises-russia-china-at-un-over-failure-to-condemn-baghdad-embassy-attack-272600">United States</a> buys from and sells to international trading partners -&nbsp;fell 8.2 per cent in November to $43.1 billion, even lower than economists had expected and the lowest since October 2016, according to the Commerce Department data.

Imports fell 1.7 per cent to $251.7 billion for the month, the lowest level in more than two years, as Americans purchased fewer mobile phones, artwork, civilian aircraft, and computers.

<a href="https://www.wionews.com/business-economy/oil-prices-surge-to-new-high-after-iran-attacks-us-bases-in-iraq-272812">Crude oil</a> imports, adjusted for inflation and seasonal changes, were the lowest since records began in 1994, reflecting increased domestic supply, as America transformed in recent years to become the world's largest producer.

Autos and parts bucked the trend, with imports rising $1.1 billion.

Exports rose but not enough to compensate for the drop in imports, rising 0.7 per cent to $208.6 billion, as Americans shipped out more drilling and oilfield equipment, jewellery and gems, autos and aircraft engines.

Imports to rebound?

Even that modest gain put exports at a new record.

But imports of services, an area where the United States typically enjoys an advantage over foreign competitors, also hit the highest level ever.

Ian Shepherdson of Pantheon Macroeconomics said the plunge in the US deficit was not sustainable, particularly because US demand is much stronger than the import figures suggest.

"This can't last; we expect a rebound over the next few months, likely starting in February," he said in an analysis.

Some tariff rates on <a href="https://www.wionews.com/world/taiwan-to-vote-in-shadow-of-china-pressure-hong-kong-protests-272816">Chinese</a> goods are due to fall that month as part of the partial deal announced in December between the United States and China.

Trump announced that Washington and Beijing are due to sign a partial <a href="https://www.wionews.com/world/us-farmers-see-another-bleak-year-despite-phase-1-trade-deal-271864">agreement</a> in Washington next week, halting the escalation in their trade conflict of nearly two years.

But many of the trade barriers remain, including retaliatory tariffs on some US goods.

Despite the November increase, &nbsp;Shepherdson said US exports are "struggling," Shepherdson said. He noted that excluding oil and aircraft, foreign goods sales had actually fallen sharply, which was in line with survey data pointing to continued declines.

The US trade deficit has not decreased on a full-year basis since 2013, but over the first 11 months of 2019, it dropped 0.7 per cent compared to the same period in the prior year.

Economists say falling imports could partly reflect the steep tariffs Trump imposed earlier this year on Chinese imports, even though last month he cancelled plans for what threatened to be the most painful round of duty increases yet.

Watch: Trump says 'all is well' after Iran's missile attack

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/trump-says-all-is-well-after-irans-missile-attack-272831/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

In November, the goods trade deficit with China fell 7.8 per cent compared to October, and it is down 16 per cent since the start of the year.

With Mexico, however, the goods deficit continued to rise, growing 8.7 per cent compared to October, marking a year-to-date increase of nearly 28 per cent.

Trump likens the trade deficit to stealing from America, but economists do not share this view, saying the United States does not produce enough domestically to meet its own needs.

America's trade deficit continued to tumble in November, hitting its lowest level in three years as imports of crude oil, computers and industrial supplies fell off sharply, the government reported Tuesday.

America's trade deficit continued to tumble in November, hitting its lowest level in three years as imports of crude oil, computers and industrial supplies fell off sharply, the government reported Tuesday. That put the United States on track for the first drop in the annual deficit in six years, likely reflecting the damage to international commerce from the US-China trade conflict and a sluggish global economy. Lowering the deficit has been a chief goal of President Donald Trump's aggressive trade policy but whether the decline will be sustained remains in question. The drop should help lift GDP growth for the final months of 2019 but falling imports are not necessarily a good sign, as it can be a sign of a weakening domestic economy. The trade gap - the difference between what the United States buys from and sells to international trading partners - fell 8.2 per cent in November to $43.1 billion, even lower than economists had expected and the lowest since October 2016, according to the Commerce Department data. Imports fell 1.7 per cent to $251.7 billion for the month, the lowest level in more than two years, as Americans purchased fewer mobile phones, artwork, civilian aircraft, and computers. Crude oil imports, adjusted for inflation and seasonal changes, were the lowest since records began in 1994, reflecting increased domestic supply, as America transformed in recent years to become the world's largest producer. Autos and parts bucked the trend, with imports rising $1.1 billion. Exports rose but not enough to compensate for the drop in imports, rising 0.7 per cent to $208.6 billion, as Americans shipped out more drilling and oilfield equipment, jewellery and gems, autos and aircraft engines. Imports to rebound? Even that modest gain put exports at a new record. But imports of services, an area where the United States typically enjoys an advantage over foreign competitors, also hit the highest level ever. Ian Shepherdson of Pantheon Macroeconomics said the plunge in the US deficit was not sustainable, particularly because US demand is much stronger than the import figures suggest. "This can't last; we expect a rebound over the next few months, likely starting in February," he said in an analysis. Some tariff rates on Chinese goods are due to fall that month as part of the partial deal announced in December between the United States and China. Trump announced that Washington and Beijing are due to sign a partial agreement in Washington next week, halting the escalation in their trade conflict of nearly two years. But many of the trade barriers remain, including retaliatory tariffs on some US goods. Despite the November increase, Shepherdson said US exports are "struggling," Shepherdson said. He noted that excluding oil and aircraft, foreign goods sales had actually fallen sharply, which was in line with survey data pointing to continued declines. The US trade deficit has not decreased on a full-year basis since 2013, but over the first 11 months of 2019, it dropped 0.7 per cent compared to the same period in the prior year. Economists say falling imports could partly reflect the steep tariffs Trump imposed earlier this year on Chinese imports, even though last month he cancelled plans for what threatened to be the most painful round of duty increases yet. Watch: Trump says 'all is well' after Iran's missile attack × In November, the goods trade deficit with China fell 7.8 per cent compared to October, and it is down 16 per cent since the start of the year. With Mexico, however, the goods deficit continued to rise, growing 8.7 per cent compared to October, marking a year-to-date increase of nearly 28 per cent. Trump likens the trade deficit to stealing from America, but economists do not share this view, saying the United States does not produce enough domestically to meet its own needs.

Plunging US imports push trade deficit to 3-year low in November

US President Donald Trump's comment signalling an announcement on trade in August probably reflected his hope for <a href="https://www.wionews.com/world/japan-pm-shinzo-abe-calls-for-strengthing-ties-with-india-221913">quick progress in negotiations</a>, Japan's Economy Minister Toshimitsu Motegi said on Tuesday.

Trump's government is trying to renegotiate trade agreements with major economies, including Japan, to lower the US trade deficit and address what it sees to be unfair trade practices.

After <a href="https://www.wionews.com/world/japan-to-buy-105-f-35-us-stealth-warplanes-donald-trump-221898">Trump met Prime Minister Shinzo Abe</a> on Monday, he told reporters he expected the two countries to be "announcing some things, probably in August, that will be very good for both countries" on trade.

However, at a regular cabinet meeting, Motegi told reporters, "When you look at the exact wording of his comments, you can see that the president was voicing his hopes of swift progress in talks toward something that is mutually beneficial."

Japanese officials have denied that the two countries had agreed to reach a trade deal by August.

Motegi, who is in charge of trade talks, said his meeting in Tokyo last week with US Trade Representative Robert Lighthizer made clear there were differences in views that needed to be ironed out in future negotiations.

Watch: Trump meets new Japanese emperor in ceremonial highlight of state visit

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/trump-meets-new-japanese-emperor-in-ceremonial-highlight-of-state-visit-222006/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"We've agreed that we'll strive to narrow the gap, including through possibly holding working-level talks," Motegi said, adding that no timetable had yet been set for future talks.

The United States is in the middle of an expensive trade war with China, and trade tension is also simmering with Japan and the European Union.

US President Donald Trump's comment signalling an announcement on trade in August probably reflected his hope for quick progress in negotiations, Japan's Economy Minister Toshimitsu Motegi said on Tuesday.

US President Donald Trump's comment signalling an announcement on trade in August probably reflected his hope for quick progress in negotiations, Japan's Economy Minister Toshimitsu Motegi said on Tuesday. Trump's government is trying to renegotiate trade agreements with major economies, including Japan, to lower the US trade deficit and address what it sees to be unfair trade practices. After Trump met Prime Minister Shinzo Abe on Monday, he told reporters he expected the two countries to be "announcing some things, probably in August, that will be very good for both countries" on trade. However, at a regular cabinet meeting, Motegi told reporters, "When you look at the exact wording of his comments, you can see that the president was voicing his hopes of swift progress in talks toward something that is mutually beneficial." Japanese officials have denied that the two countries had agreed to reach a trade deal by August. Motegi, who is in charge of trade talks, said his meeting in Tokyo last week with US Trade Representative Robert Lighthizer made clear there were differences in views that needed to be ironed out in future negotiations. Watch: Trump meets new Japanese emperor in ceremonial highlight of state visit × "We've agreed that we'll strive to narrow the gap, including through possibly holding working-level talks," Motegi said, adding that no timetable had yet been set for future talks. The United States is in the middle of an expensive trade war with China, and trade tension is also simmering with Japan and the European Union.

Japan says Trump's comment reflected hope for progress in trade talks by August

The trade deficit between India and the US decreased by $1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures.

India recorded a decrease in the deficit from $22.9 billion in 2017 to $21.3 billion in 2018, according to the latest figures revealed by the Bureau of Economy Analysis on Wednesday.

Also read:<a href="http://www.wionews.com/business-economy/i-intend-to-end-indias-preferential-trade-treatment-under-gsp-program-trump-201179"> I intend to end preferential trade status for India, Turkey, says Trump</a>

The US trade deficit in goods and services increased by $9.5 billion from $50.3 billion in November to $59.8 billion in December, according to the figures.

For 2018, the US goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. Imports were $3,121.0 billion, up $217.7 billion from 2017, it said.

The figures showed that the goods deficit hit $891.3 billion in 2018, the largest in US history. America's goods deficit with China hit a record $419.2 billion last year.

Opposition Democratic party were quick in criticising US President Donald Trump.

"Today's announcement that the merchandise trade deficit for 2018 topped $891 billion shows that the President has flunked the test he set for himself,"&nbsp;said House Majority Leader Steny H Hoyer.&nbsp;

Alliance for American Manufacturing president Scott Paul in a statement criticised President Donald Trump for his policies that have resulted in a record trade deficit.&nbsp;

"Perhaps Donald Trump will now discover that tweets and bluster alone won't dramatically shrink the trade deficit," he said.

"The selective interventions of the administration on trade have been helpful to key sectors, but these actions haven't put a dent in the massive deficit. The administration's fiscal policies have helped to boost the trade deficit, as has its reluctance to engage more actively in exchange rate misalignment," he said.

"While the trade deficit results from many factors, the staggering sum represents lost opportunities for American workers and businesses," Paul said. 
"If the president wants to back his words with actions, any trade deal with China will insist on dramatic, structural changes in Beijing's state-led economy, which have

contributed to massive industrial overcapacity in key sectors. The next few weeks of negotiations with China are critical to the future of American manufacturing. We can't afford a deal that doesn't deliver real and lasting change," Paul said.

The trade deficit between India and the US decreased by $1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures.

The trade deficit between India and the US decreased by $1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures. India recorded a decrease in the deficit from $22.9 billion in 2017 to $21.3 billion in 2018, according to the latest figures revealed by the Bureau of Economy Analysis on Wednesday. Also read: I intend to end preferential trade status for India, Turkey, says Trump The US trade deficit in goods and services increased by $9.5 billion from $50.3 billion in November to $59.8 billion in December, according to the figures. For 2018, the US goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. Imports were $3,121.0 billion, up $217.7 billion from 2017, it said. The figures showed that the goods deficit hit $891.3 billion in 2018, the largest in US history. America's goods deficit with China hit a record $419.2 billion last year. Opposition Democratic party were quick in criticising US President Donald Trump. "Today's announcement that the merchandise trade deficit for 2018 topped $891 billion shows that the President has flunked the test he set for himself," said House Majority Leader Steny H Hoyer. Alliance for American Manufacturing president Scott Paul in a statement criticised President Donald Trump for his policies that have resulted in a record trade deficit. "Perhaps Donald Trump will now discover that tweets and bluster alone won't dramatically shrink the trade deficit," he said. "The selective interventions of the administration on trade have been helpful to key sectors, but these actions haven't put a dent in the massive deficit. The administration's fiscal policies have helped to boost the trade deficit, as has its reluctance to engage more actively in exchange rate misalignment," he said. "While the trade deficit results from many factors, the staggering sum represents lost opportunities for American workers and businesses," Paul said. "If the president wants to back his words with actions, any trade deal with China will insist on dramatic, structural changes in Beijing's state-led economy, which have contributed to massive industrial overcapacity in key sectors. The next few weeks of negotiations with China are critical to the future of American manufacturing. We can't afford a deal that doesn't deliver real and lasting change," Paul said.

US trade deficit with India decreased by $1.6 billion in 2018

&nbspChina denied on Friday that it had offered a package to slash the US trade deficit by up to $200 billion, hours after it dropped an anti-dumping probe into US sorghum imports in a conciliatory gesture as top negotiators meet in Washington.

US officials had said on Thursday that China was proposing trade concessions and increased purchases of American goods aimed at cutting the US trade deficit with China by up to $200 billion a year.

"This rumour is not true. This I can confirm to you," Chinese foreign ministry spokesman Lu Kang told a regular news briefing.

"As I understand, the relevant consultations are ongoing and they are constructive," he said, adding that he could not elaborate on the specifics of the negotiations.

Earlier on Friday, China announced that it was ending its sorghum investigation, which had effectively halted a trade worth roughly $1.1 billion last year and roiled global grain markets and spurred worries about rising costs domestically.

The United States is China's dominant source of imported sorghum, a product grown in states such as Texas and Kansas that lean towards Trump's Republican party, whose Congressional majorities are under threat in mid-term elections in November.

Explaining the dropping of the sorghum investigation, China's commerce ministry said it "would have a widespread impact on consumer living costs, and does not accord with the public interest".

Getting to a $200 billion reduction of the US-China trade deficit on a sustainable basis would require a massive change in the composition of commerce between the two, and the news from the unidentified U.S. officials in Washington had been met with scepticism from economists.

"That's an enormous number and it suggests that there could be some impressively ambitious accounting," said Scott Mulhauser, a former chief of staff at the US Embassy in Beijing and US Export-Import Bank official who now advises companies on trade.

The US goods deficit was $375 billion last year.

One US source said earlier that US aircraft maker Boeing Co would be a major beneficiary of the Chinese offer to narrow the trade gap if Trump were to accept it. Boeing is the largest US exporter and already sells about a quarter of its commercial aircraft to Chinese customers.

Another person familiar with the talks had said the package may include some elimination of Chinese tariffs already in place on about $4 billion worth of US farm products including fruit, nuts, pork, wine - and sorghum.

A White House statement described the meetings as part of "ongoing trade discussions" and said Trump met the Chinese delegation led by Liu and the US team led by Mnuchin.

"The United States officials conveyed the president's clear goal for a fair trading relationship with China," the White House said.

That top-line number in the reported Chinese offer would largely match a request presented to Chinese officials by Trump administration officials in Beijing two weeks ago.

The two biggest US exports to China were aircraft at $16 billion last year, and soybeans, at $12 billion.

The United States shipped 4.76 million tonnes of sorghum to China in 2017, worth about $1.1 billion, accounting for the bulk of Chinese imports of the grain used in animal feed and Chinese liquor.

In April, China forced US sorghum exporters to put up a 178.6 per cent deposit on the value of sorghum shipments to the country after launching an investigation in February following Trump's imposition of steep tariffs on imports of solar panels and washing machines.

"China has taught a lesson to the United States and showed how it can hurt US exports," said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney.

"Now they are showing goodwill by halting its anti-dumping investigation into sorghum imports, but it is a cheap way of showing goodwill as the US doesn't have much sorghum left to export. The next US&nbspsorghum crop will be harvested in August,” Houe said.

Trump has threatened to impose tariffs on up to $150 billion of Chinese goods to combat what he says is Beijing's appropriation of US technology through joint venture requirements and other policies. Beijing has threatened equal retaliation, including tariffs on some of its largest US imports, including aircraft, soybeans and autos.

In April, China forced US sorghum exporters to put up a 178.6 per cent deposit on the value of sorghum shipments to the country after launching an investigation in February.

&nbspChina denied on Friday that it had offered a package to slash the US trade deficit by up to $200 billion, hours after it dropped an anti-dumping probe into US sorghum imports in a conciliatory gesture as top negotiators meet in Washington. US officials had said on Thursday that China was proposing trade concessions and increased purchases of American goods aimed at cutting the US trade deficit with China by up to $200 billion a year. "This rumour is not true. This I can confirm to you," Chinese foreign ministry spokesman Lu Kang told a regular news briefing. "As I understand, the relevant consultations are ongoing and they are constructive," he said, adding that he could not elaborate on the specifics of the negotiations. Earlier on Friday, China announced that it was ending its sorghum investigation, which had effectively halted a trade worth roughly $1.1 billion last year and roiled global grain markets and spurred worries about rising costs domestically. The United States is China's dominant source of imported sorghum, a product grown in states such as Texas and Kansas that lean towards Trump's Republican party, whose Congressional majorities are under threat in mid-term elections in November. Explaining the dropping of the sorghum investigation, China's commerce ministry said it "would have a widespread impact on consumer living costs, and does not accord with the public interest". Getting to a $200 billion reduction of the US-China trade deficit on a sustainable basis would require a massive change in the composition of commerce between the two, and the news from the unidentified U.S. officials in Washington had been met with scepticism from economists. "That's an enormous number and it suggests that there could be some impressively ambitious accounting," said Scott Mulhauser, a former chief of staff at the US Embassy in Beijing and US Export-Import Bank official who now advises companies on trade. The US goods deficit was $375 billion last year. One US source said earlier that US aircraft maker Boeing Co would be a major beneficiary of the Chinese offer to narrow the trade gap if Trump were to accept it. Boeing is the largest US exporter and already sells about a quarter of its commercial aircraft to Chinese customers. Another person familiar with the talks had said the package may include some elimination of Chinese tariffs already in place on about $4 billion worth of US farm products including fruit, nuts, pork, wine - and sorghum. A White House statement described the meetings as part of "ongoing trade discussions" and said Trump met the Chinese delegation led by Liu and the US team led by Mnuchin. "The United States officials conveyed the president's clear goal for a fair trading relationship with China," the White House said. That top-line number in the reported Chinese offer would largely match a request presented to Chinese officials by Trump administration officials in Beijing two weeks ago. The two biggest US exports to China were aircraft at $16 billion last year, and soybeans, at $12 billion. The United States shipped 4.76 million tonnes of sorghum to China in 2017, worth about $1.1 billion, accounting for the bulk of Chinese imports of the grain used in animal feed and Chinese liquor. In April, China forced US sorghum exporters to put up a 178.6 per cent deposit on the value of sorghum shipments to the country after launching an investigation in February following Trump's imposition of steep tariffs on imports of solar panels and washing machines. "China has taught a lesson to the United States and showed how it can hurt US exports," said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney. "Now they are showing goodwill by halting its anti-dumping investigation into sorghum imports, but it is a cheap way of showing goodwill as the US doesn't have much sorghum left to export. The next US&nbspsorghum crop will be harvested in August,” Houe said. Trump has threatened to impose tariffs on up to $150 billion of Chinese goods to combat what he says is Beijing's appropriation of US technology through joint venture requirements and other policies. Beijing has threatened equal retaliation, including tariffs on some of its largest US imports, including aircraft, soybeans and autos.

China denies offering $200 billion package to slash US trade gap

us-trade-deficit

Us Trade Deficit, News on Us Trade Deficit, stories on Us Trade Deficit, articles on Us Trade Deficit, Us Trade Deficit stories at Wion, Us Trade Deficit news, Us Trade Deficit latest news

us trade-deficit

US merchandise trade deficit narrows in June, fuelling Q2 GDP optimism