US Trade Deficit Down In August

US Trade Deficit Down In August
US Trade Deficit Down In August
US Trade Deficit Down In August The New York Times

The US trade deficit has been the topic of much handwringing in Washington as the Trump Administration continues to threaten that most current trade pacts are bad and that they all need to be renegotiated.

In an article appearing on Friday, Oct 5, Ana Swanson of the New York Times, writes in U.S. Trade Deficit Shrank in August as Exports Rose about how that might be impacted by US August trade numbers - which were better than expected:

Josh Feinman, the chief economist of Deutsche Asset Management, said those trends were largely the result of a strengthening global economy that buoyed American exports, as well as the weakening of the value of the dollar.

“Global growth is looking better,” Mr. Feinman said. “That does create a little bit of a tailwind for exports.” He cautioned that the economic impact of Hurricane Harvey, which made landfall in Texas on Aug. 25, could be distorting the data somewhat, as ports closed and people stayed home from work and shops.

Despite the narrowing in August, the overall trade deficit is still growing on an annual basis. It was up 8.8 percent in the first eight months from the same period in 2016, according to Commerce Department data.

It will be interesting to see if this changes the political sentiment coming from the White House.

Read the source article at The New York Times

 


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