prc30 on Nostr: China Morning Missive This is a truly fantastic article. A look at the sources of ...
China Morning Missive
This is a truly fantastic article. A look at the sources of America’s trade deficit. What is most interesting is that for the month of January, the US recorded a massive – and record - $153bn deficit. That’s after reporting another, initial, record in December of $123bn.
Again, that’s the trade deficit for goods for a single month.
This was to be expected as American buyers (think Amazon and Walmart) would have clamored to finalize purchase agreements in advance of the Trump tariffs. It does, however, also go to show just how dangerously dependent American remains on other markets/countries for all that it consumes.
Much as I’ve shared, even quite publicly, America produces virtually nothing. China produces virtually everything. And the point of Vietnam coming in second overall in terms of the US trade deficit goes to show just how aggressive and quickly Chinese manufactures were at moving capacity to other jurisdictions to avoid the original tariffs from back in 2018.
This dynamic will not change at any time in the foreseeable future. While attempts have been made to create some sort of “industrial policy” in America, the execution of that policy has gone completely off the rails. The $30bn grant to Intel is but one perfect example.
https://www.msn.com/en-us/money/markets/the-countries-fueling-america-s-1-2-trillion-trade-deficit-in-charts/ar-AA1A3W4q
This is a truly fantastic article. A look at the sources of America’s trade deficit. What is most interesting is that for the month of January, the US recorded a massive – and record - $153bn deficit. That’s after reporting another, initial, record in December of $123bn.
Again, that’s the trade deficit for goods for a single month.
This was to be expected as American buyers (think Amazon and Walmart) would have clamored to finalize purchase agreements in advance of the Trump tariffs. It does, however, also go to show just how dangerously dependent American remains on other markets/countries for all that it consumes.
Much as I’ve shared, even quite publicly, America produces virtually nothing. China produces virtually everything. And the point of Vietnam coming in second overall in terms of the US trade deficit goes to show just how aggressive and quickly Chinese manufactures were at moving capacity to other jurisdictions to avoid the original tariffs from back in 2018.
This dynamic will not change at any time in the foreseeable future. While attempts have been made to create some sort of “industrial policy” in America, the execution of that policy has gone completely off the rails. The $30bn grant to Intel is but one perfect example.
https://www.msn.com/en-us/money/markets/the-countries-fueling-america-s-1-2-trillion-trade-deficit-in-charts/ar-AA1A3W4q