U.S. Trade Deficit Widest Since 2008

[alien42]

"The U.S. trade deficit jumped 18.9% in July owing to a big snapback in imports, the government said Thursday. The trade gap increased to $63.6 billion from $53.5 billion in the prior month - above the $58.9 billion MarketWatch forecast. Imports shot up 10.9% while exports advanced 8.1%. "

U.S. trade deficit surges 18.9% in July

WASHINGTON (MarketWatch) - The U.S. trade deficit jumped 18.9% in July owing to a big snapback in imports, the government said Thursday. The trade gap...

www.marketwatch.com

U.S. Trade Deficit Widest Since 2008 in July as Imports Outpaced Exports

The U.S. trade deficit widened in July, as Americans’ appetite for foreign-made goods bounced back while exports rose more modestly.

www.wsj.com

so the best deal maker in the world, who promised to create American manufacturing jobs and lower the trade gap has successfully made it worse than it was under all 8 years of Obama. blame it on his trade wars or his failed response to the Coronavirus, doesn't really matter, still lands squarely in his lap. i'd love to hear his sycophants excuses on this one.

 

[conehead433]

But Trump's tariffs fixed all that. Never mind that the US is giving billions to farmers who've lost almost everything because they lost their best customer. The US has collected ~$63 billion in tariffs over the last 12 moths. The US taxpayer ends up footing the bill. I'm not really sure why the President is allowed to make these decisions as it is basically a form of taxation without representation. Any and all monetary matters should go through Congress. I wonder if the farmers that supported Trump in 2016 will still vote for him. Probably will, since now that get money for doing nothing. Meanwhile Trump wants to take away money to support poverty stricken families who can barely afford to put food on the table.

 

[alien42]

But Trump's tariffs fixed all that. Never mind that the US is giving billions to farmers who've lost almost everything because they lost their best customer. The US has collected ~$63 billion in tariffs over the last 12 moths. The US taxpayer ends up footing the bill. I'm not really sure why the President is allowed to make these decisions as it is basically a form of taxation without representation. Any and all monetary matters should go through Congress. I wonder if the farmers that supported Trump in 2016 will still vote for him. Probably will, since now that get money for doing nothing. Meanwhile Trump wants to take away money to support poverty stricken families who can barely afford to put food on the table.

yup, and it is important to note that those "~$63 billion in tariffs over the last 12 moths" were paid by importers and not China.

 

[fskimospy]

yup, and it is important to note that those "~$63 billion in tariffs over the last 12 moths" were paid by importers and not China.

Well I mean China basically laughed in his face, as was entirely predictable.

 

[woolfe9998]

Remember when Trump was going on and on about how terrible these trade deficits are? Well actually they aren't, but the fact is he claimed they were terrible and that he'd fix it. Just another turd to add to Trump's Everest sized pile of bullshit.

 

[repoman0]

Trump supporters never cared about this, but Trump easily convinced them that they should be mad as hell about it because they are mindless sheep. Now he obviously won’t be bringing it up anymore, so of course they again don’t care because they have the attention span and memory capacity of fruit flies.

 

[K1052]

i'd love to hear his sycophants excuses on this one.

Invariably my local Trumpists say "At least he tried!".

They are too invested tribally to admit he's a big incompetent lying sack of shit even when presented with irrefutable evidence of it.

 

[fskimospy]

Invariably my local Trumpists say "At least he tried!".

They are too invested tribally to admit he's a big incompetent lying sack of shit even when presented with irrefutable evidence of it.

Also, his ‘trying’ made things worse. Now every country in the world knows we can’t be trusted to uphold our agreements.

As I’ve said before, this is why it was always obvious that Trump would fail in his trade war with China - he’s not able to make credible commitments. Because China couldn’t trust him to keep his word there was no point in making significant concessions even if they wanted to.

 

[K1052]

Also, his ‘trying’ made things worse. Now every country in the world knows we can’t be trusted to uphold our agreements.

As I’ve said before, this is why it was always obvious that Trump would fail in his trade war with China - he’s not able to make credible commitments. Because China couldn’t trust him to keep his word there was no point in making significant concessions even if they wanted to.

The ink isn't dry on the NAFTA retread and he's trying to fuck over the Canadians on aluminum.

We are not a serious country and nobody should treat us like one. It would be foolish to do so. We deserve to be disbelieved, ridiculed, and then made to put up some sort of collateral that can't be clawed back if we expect to deal with other countries in the future.

 

[MtnMan]

but.. but.. but.. the tariffs, must punish China with tariffs.

 

[fskimospy]

The ink isn't dry on the NAFTA retread and he's trying to fuck over the Canadians on aluminum.

We are not a serious country and nobody should treat us like one. It would be foolish to do so. We deserve to be disbelieved, ridiculed, and then made to put up some sort of collateral that can't be clawed back if we expect to deal with other countries in the future.

Yes, that's what's going to happen for years to come - every deal we make is going to have tons of out clauses, snapback features, etc. because nobody will believe we will keep our word. It's going to cost the US a ton of money in both concessions and economic inefficiencies.

 

[alexruiz]

so much winning, but you guys are right, his base doesn't care how much he screws it up.

I know that we as computer enthusiasts got hit hard because of his trade war. Power supplies anyone?
And it is just ONE example

 

[brandonbull]

"The U.S. trade deficit jumped 18.9% in July owing to a big snapback in imports, the government said Thursday. The trade gap increased to $63.6 billion from $53.5 billion in the prior month - above the $58.9 billion MarketWatch forecast. Imports shot up 10.9% while exports advanced 8.1%. "

U.S. trade deficit surges 18.9% in July

WASHINGTON (MarketWatch) - The U.S. trade deficit jumped 18.9% in July owing to a big snapback in imports, the government said Thursday. The trade gap...

www.marketwatch.com

U.S. Trade Deficit Widest Since 2008 in July as Imports Outpaced Exports

The U.S. trade deficit widened in July, as Americans’ appetite for foreign-made goods bounced back while exports rose more modestly.

www.wsj.com

so the best deal maker in the world, who promised to create American manufacturing jobs and lower the trade gap has successfully made it worse than it was under all 8 years of Obama. blame it on his trade wars or his failed response to the Coronavirus, doesn't really matter, still lands squarely in his lap. i'd love to hear his sycophants excuses on this one.

Who would have guessed shutting down business for months would have a negative impact on production?

 

[ivwshane]

Who would have guessed shutting down business for months would have a negative impact on production?

Who would have thought that in order to have a normal economy we’d have to first tackle a pandemic? Certainly not your cult leader.

 

[alien42]

Who would have guessed shutting down business for months would have a negative impact on production?

it's a GLOBAL pandemic, which means it affects every single nation.

like i said... "blame it on his trade wars or his failed response to the Coronavirus, doesn't really matter, "

and now your dumbass goes back on ignore.

 

[sdifox]

Who would have guessed shutting down business for months would have a negative impact on production?

That's right, Covid-19 only affects US economy.

 

[ch33zw1z]

Who would have guessed shutting down business for months would have a negative impact on production?

brandon takes a swing at it