Home » Money

US Trade Deficit Widens To Largest In Almost Five Years In January

10 March, 2017, 00:19 | Author: Paula Vaughn
  • US trade deficit in January largest since 2012

Exports rose 4 percent from a year earlier in January and February to $302.8 billion, rebounding from a 6.1 percent contraction in December, customs data showed Wednesday.

But exports unexpectedly fell 1.3%, giving a trade deficit of $9.2bn for the month.

President Donald Trump took office with a pledge to boost annual economic growth to four percent and renegotiate trade deals in favor of the United States. To bring those jobs back to America, Trump has threatened to assign punitive tariffs on imports from not only China but also Mexico and any other nation he has accused of unfair trade practices.

The Asian nation's February imports expanded by a staggering 38.1 percent, well above analysts' forecasts, while shipments overseas dropped by 1.3 percent in the month under review. China's foreign trade surplus with European Union was 130.16 billion yuan, a 12.6 percent drop year on year. The dollar gained 4.4 per cent against the currencies of the United States' main trading partners previous year.

"However, we doubt that the current pace of import growth can be sustained", he said.

Grayson Allen gets technical foul after angrily slamming down ball
Which teams at the top will go far in the tournament - and which teams at the bottom can fight their way into the Big Dance? North Carolina's Roy Williams is a master at this, but just about every ACC coach likes trying it out for size.

The data comes after China slapped a surprise ban in mid-February on imports from North Korea, the country's main supplier of anthracite coal. Imports of automobiles and parts climbed to a record, while petroleum products were the highest in two years. "With growth in China now running above trend and both monetary and fiscal policy being tightened, it is only a matter of time before we see a slowdown in domestic demand".

Data such as housing starts, consumer spending and construction outlays have implied the economy struggled to regain momentum early in the first quarter after growth slowed to a 1.9 percent annualized rate in the final three months of 2016.

One solution is to combine exports and imports for both January and February, which should iron out fluctuations based on the date shifting.

Accordingly, US exports increased only slightly-by 0.6 percent, to $192.1 billion-with help from excellent auto sales. Shipments of goods to China, also singled out by the Trump administration, dropped 13.4 per cent.

Recommended:

  • Zlatan Ibrahimovic and Tyrone Mings hit with FA charges

    Zlatan Ibrahimovic and Tyrone Mings hit with FA charges

    But that isn't something I think about because all the defenders, they try to stop you and me as a striker I try to score goals. Both players have until 6pm tomorrow to appeal the charge.
    ISIS Attackers Dressed As Doctors Kill Dozens at Afghan Military Hospital

    ISIS Attackers Dressed As Doctors Kill Dozens at Afghan Military Hospital

    ISIL claimed the attack in a statement carried by Aamaq, its affiliated news agency, and through a verified telegram account. They say the arson attack came after a riot and attempt to escape from the overcrowded government-run centre.
    Narendra Modi; Most Talked About Politician On Facebook

    Narendra Modi; Most Talked About Politician On Facebook

    Desperate to retain his chair, Akhilesh Yadav addressed a whopping 221 rallies in 36 days. He also, once again, accused BSP chief Mayawati of propagating corruption.
  • Kejriwal Defamation Case: Jaitley Cross Examined by Ram Jethmalani

    Kejriwal Defamation Case: Jaitley Cross Examined by Ram Jethmalani

    Jethmalani reportedly pointed out that Kejriwal was only repeating what journalist Madhu Kishwar had already alleged. I do remember that he once contested the DDCA president post and lost it.
    Be Immersed By Kong: Skull Island IMAX Featurette

    Be Immersed By Kong: Skull Island IMAX Featurette

    Even if Kong: Skull Island ends up being a disappointment, at least it produced one of the best trailers in recent memory. Kong: Skull Island storms into United Kingdom cinemas on 10th March, and looks set to truly dominate at the box-office.
    Nintendo Switch day one update is now live

    Nintendo Switch day one update is now live

    The Nintendo Switch was released recently, on March 3, 2017 , and many players are now eagerly waiting to get their hands on it. Word from decal maker dbrand is that both the console and controllers are incompatible with the adhesives used.
  • U.S.  trying to avoid a Turkey-Kurdish conflict in Syria, general says

    U.S. trying to avoid a Turkey-Kurdish conflict in Syria, general says

    And as a Turkish official admitted to Reuters, the United States is committed to conducting Raqqa with the SDF , not Turkey. Since pushing the jihadists out of their al-Bab stronghold, fighting has focused on villages west of Manbij.
    DeSean Jackson to Patriots?

    DeSean Jackson to Patriots?

    Sure, Jackson hasn't killed it on the stat sheet as he turns 30 years old but would create a great 1-2 punch for defenses. After all, he was targeted an insane 176 times last season and caught 96 passes for 1,321 yards and 12 touchdowns.
    Surprise! Adele just confirmed she's married to longtime love Simon Konecki

    Surprise! Adele just confirmed she's married to longtime love Simon Konecki

    They have been a family for years now but this little ceremony made things officially official. Adele and Simon Konecki at the Grammy Awards last month.
  • FCC to investigate AT&T outage affecting 911 calls

    FCC to investigate AT&T outage affecting 911 calls

    Tonight, callers in Texas, Florida , Tennessee and other states were unable to call the number, law enforcement agencies said. Several counties are now reporting a carrier issue is affecting the ability to contact to 911 dispatch center.
    Storing Data in Single-Atom Magnets

    Storing Data in Single-Atom Magnets

    The IBM researchers used the needle point of a powerful microscope to pass the electrical current towards the holmium atoms. The boffins show that two magnetic atoms could be written and read independently when separated by one nanometer.
    Trump Surprises White House Visitors as Tours Resume

    Trump Surprises White House Visitors as Tours Resume

    White House aide Cliff Sims tweeted video from the president's perspective when he surprised the group. Women across the US are observing the day by skipping work and shopping, and attending rallies.


Popular

Indian doctors confirm 'world's heaviest woman' has lost 100kg
In order to transport her to Mumbai, the walls of her room were knocked down and she had to be lifted out of her bed via crane. They are also awaiting Ms Ahmed's genetic test results to understand if a genetic disorder might be responsible for obesity.

Champions League: Barcelona must make history to get past PSG
Barcelona will be looking to pull off a miraculous Champions League come back when they host Paris Saint-Germain. The 30-year-old told reporters: "We are all aware of how hard it is, but in football nothing is impossible".

Trump met with Russian ambassador before vote
Democrats, at 51 percent, are about twice as likely to consider Putin's oligarchic paradise a "very serious threat". If no evidence of a wiretap is found, it means Trump perpetrated a monumental falsehood with no foundation.

The women's strike triggers two school district closures for the day
Glamour serves up "quick talking points" so women can more effectively communicate with men about what this day means. Organizers of the massive Women's March on Washington in January are spearheading " A Day without a Woman ".

US Starts Deploying THAAD Anti-Missile Defense System in South Korea
Trump also spoke with South Korea's acting President Hwang Kyo-ahn about his neighbor's missile launches. North Korea criticises the annual drills, calling them preparation for war against it.