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6 July 2017
 |
| US (The Total Investment & Insurance Solutions) |
The U.S. trade deficit narrowed in May, and the politically sensitive
trade gap with China also slid.
The Commerce Department said Thursday that
the U.S. deficit in the trade of goods and services fell 2.2 percent in May to
a seasonally adjusted $46.5 billion. U.S. exports rose modestly to $192 billion
— the highest level since April 2015 — on rising shipments of cars and consumer
goods, including cellphones. Imports fell slightly. The Total Investment & Insurance Solutions
President Donald Trump has vowed to reduce
America's trade deficits — the difference between exports and imports — blaming
them on bad trade deals and abusive practices by U.S. trading partners,
particularly China. His administration also is preparing to renegotiate the
North American Free Trade Agreement with Canada and Mexico to overhaul a trade
pact he's called a "disaster" for American workers. The Total Investment & Insurance
Solutions
The deficit in goods with China fell by 6.2
percent to a seasonally adjusted $30.1 billion. The gap with Mexico rose by 5.6
percent to $6.8 billion. The Total
Investment & Insurance Solutions
Despite the dip in May, the overall U.S.
trade deficit is up 13.1 percent so far this year to $233.1 billion. Exports
are up 6 percent to $957.8 billion. But imports are up more — 7.3 percent to
$1.19 trillion.
So far in 2017, the U.S. is running a $336.2
billion deficit in the trade of goods and a $103.1 billion surplus in the trade
of services such as banking and tourism.The
Total Investment & Insurance Solutions
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