trade deficit

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July Held Bad News for US Trade Deficit

It increased $4.4B, set records in dealings with China and EU

(Newser) - The US trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. The deficit in goods with China and the European Union set records, reports the AP . The Commerce Department said Wednesday that the deficit in goods and...

Trump: 'It's Been a Really Great 12 Days'

He says Asia trip was 'tremendously succesful'

(Newser) - President Trump headed for home Tuesday following an extensive tour of Asia that he said had been "tremendously successful" and had put the world on notice that the "rules have changed" for countries that want to trade with the US. Trump also teased a "major statement" on...

Japan Reports 1st Trade Deficit in 30 Years

And that could mean trouble for its national debt

(Newser) - Japan reported its first trade deficit since 1980 today, a $32 billion shortfall caused in part by the tsunami that struck the country, and in part by the strengthening yen. And while the tsunami may have been a freak occurrence, experts tell the AP that the deficit isn't. "...

Economy Grew at 3.2% Rate in Q4

Consumer spending grew at fastest pace in 5 years

(Newser) - Spurred by consumer spending and a shrinking trade deficit, the economy grew at a 3.2% annual rate in the fourth quarter. That beats the previous quarter's 2.6% but falls short of analysts' expectations of 3.5%. Still, "a number above 3% should drive a stake through the...

'Guidelines,' No Specifics, at G20

Obama slams China over currency manipulation

(Newser) - G20 leaders have agreed to curb “persistently large imbalances” in saving and spending and set “indicative guidelines” against trade imbalances, but more specific decisions on how to identify and fix said imbalances were left until next year, reports the New York Times . The finance minsters are to agree...

US-South Korea Trade Deal Hits the Rocks

But broader G20 pact near

(Newser) - After days of furious negotiating, the US has failed to strike a free trade deal with South Korea. President Obama still hopes that the deal can be reached within a few weeks, but probably not before Obama leaves Seoul, the LA Times reports—a Korean official said that Lee Myung-bak...

Obama to UN: Give India Seat on Security Council

Trip drives $14.9B in trade deals, 50K US jobs

(Newser) - In a key diplomatic move, President Obama called for a permanent seat for India on the UN Security Council today. In a speech to the country’s Parliament, Obama fulfilled the country’s top wish for his visit, the AP reports, though it does not mean that India will join...

G20 Nations Brush Off Goals by Geithner

He's proposing better guidelines on currency rates, deficits

(Newser) - G20 officials aren’t likely to accept US proposals to better monitor exchange rates along with trade deficits and surpluses, an insider tells Reuters . Timothy Geithner had hoped to set numerical targets for surpluses and deficits as well as "norms" on currency rate policy. "Right now, there is...

China's Hurting Us By Lending to Us
 China's Hurting Us 
 By Lending to Us 
Paul Krugman
Sep 13, 2010 1:49 PM CDT

China's Hurting Us By Lending to Us

Japan's figured this out, why can't we?

(Newser) - When Japan’s finance minister complained last week about recent Chinese purchases of Japanese bonds, it “made me want to bang my head against the wall in frustration,” writes Paul Krugman of the New York Times . See, the US has repeatedly refused to do anything about China’s...

Obama's China Visit Achieves Little
 Obama's China Visit 
 Achieves Little 
analysis
Nov 17, 2009 4:48 PM CST

Obama's China Visit Achieves Little

In fact, it just illustrates the 'yawning' economic differences

(Newser) - President Obama and Chinese leader Hu Jintao paid lip service today to the idea of stronger US-China relations, but Obama's visit has done nothing but highlight the "yawning differences" between the two nations on economic issues, writes Dexter Roberts. "Lofty statements of common interests aside, the all-important Sino-US...

Bernanke: US Must Save More, Asia Spend More

Fed chief warns global imbalances could trigger new meltdown

(Newser) - The world economy is headed back down the drain if Asians don't start spending more and Americans don't start saving more, Ben Bernanke said at a conference yesterday. The Fed chief warned that unequal trade patterns were partly to blame for the financial crisis and that they are re-emerging as...

This Rally May Be the Real Deal
 This Rally May Be the Real Deal 
OPINION
Mar 26, 2009 9:07 AM CDT

This Rally May Be the Real Deal

Positive indicators, better policy, historical benchmarks; the time is right for a bottom

(Newser) - The tentative rally on Wall Street is reason enough for one economist to feel hopeful: "I’m ready to take another shot at calling the bottom," writes Michael Mandel in BusinessWeek. Since (apparently) bottoming out March 9, stocks have risen 20%, and the reasons behind the climb are...

Krugman: Obama Can't Take Crutches Away Too Soon
Krugman: Obama Can't Take Crutches Away Too Soon
OPINION
Dec 22, 2008 12:54 PM CST

Krugman: Obama Can't Take Crutches Away Too Soon

Government must remain involved for economy to gain new footing

(Newser) - The Obama administration must resist the temptation to leave the economy to its own devices too soon, Paul Krugman writes in the New York Times. “Getting to the point where our economy can thrive without fiscal support may be a difficult, drawn-out process,” he writes, with no bubble...

Stocks Fight Back; Dow Up 553
 Stocks Fight Back; Dow Up 553 
MARKETS
Nov 13, 2008 3:35 PM CST

Stocks Fight Back; Dow Up 553

Index off more than 300 early on ugly jobs news

(Newser) - Stocks rallied late today, overcoming the report of a big jump in weekly jobless claims that pushed the Dow briefly below 8,000 earlier in the session, MarketWatch reports. Amid mixed earnings reports and generally downbeat forecasts, the Dow gained 552.59 to close at 8,835.25. The Nasdaq...

'Kimchi Deficit' Puts Korea in a Pickle

Spicy side dish's sales fall from cheaper competition

(Newser) - Seoul is facing a ferment in its effort to promote South Korean cuisine around the world: declining exports of its national dish, kimchi. The country recorded a $77.3 million trade deficit of the spicy pickled cabbage and other veggies over the past 3 years, BBC reports. A government report...

Farms Fuel Boom in US Exports
 Farms Fuel Boom in US Exports
Aug 18, 2008 9:21 AM CDT

Farms Fuel Boom in US Exports

Strengthening dollar could trim growth of sales abroad

(Newser) - Worldwide demand for grain and a weak US dollar helped drive exports up 7.1% in the first half of the year, providing a respite from the barrage of negative economic news. But experts warn the commodity-driven rise could be brief, reports the New York Times. Export surges of agricultural...

US in Recession Now: Buffett
US in Recession Now: Buffett
Mar 4, 2008 3:28 AM CST

US in Recession Now: Buffett

Billionaire says crisis is already here

(Newser) - The US is already in a recession for all practical purposes, even if economic conditions haven't yet met the technical definition of at least two consecutive quarters of negative growth. That's the verdict of billionaire investor Warren Buffett, who tells CNBC that a serious economic slowdown is obvious in reports...

Poll: Most Expect Recession but Aren't Hurting—Yet

Poll shows majority fear for future

(Newser) - The vast majority of Americans are convinced the nation is sinking into a recession—but most are not feeling the pinch themselves and have no plans to tighten their belts just yet, according to a Los Angeles Times/Bloomberg poll. A year ago a similar poll showed widespread confidence that the...

Oil Sends Trade Deficit to 14-Month High

Soaring crude prices overshadow strong growth in US exports

(Newser) - The trade deficit widened 9.3% to $63.1 billion in November, despite a healthy growth in exports. With the dollar down, and demand for US goods rising in Asia and Latin America, exports moved at a healthy clip. But spending on imported oil overshadowed everything else, Bloomberg reports. “...

Trade Deficit Nosedives Unexpectedly

Import-export gap shrinks to lowest level in 2 years

(Newser) - The weakening dollar has an economic silver lining, Bloomberg reports. The government today said the slumping currency helped boost US exports and unexpectedly narrow the trade deficit in September to its smallest level since May 2005. "Instead of being the drag that it has been for the last 15...

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