The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

U.S. trade deficit hits $50.5 billion, biggest since 2012

The U.S. trade deficit rose to $50.5 billion in November, the largest imbalance in nearly six years, as imports and exports both hit records.

The November deficit was 3.2 percent higher than October’s $48.9 billion imbalance, the Commerce Department reported Friday. U.S. exports of goods and services were up 2.3 percent to an all-time high of $200.2 billion. Imports rose an even faster 2.5 percent to a record $250.7 billion.

A rising trade deficit, which reduces economic growth, means that the United States is buying more goods and services from other countries than it is selling them. … U.S. exports of commercial aircraft, telecommunications equipment and American-made autos and auto parts were all up in November. U.S. manufacturers have been helped this year by a rebounding global economy and a weaker dollar which has made American goods more competitive on foreign markets.

More at the Spokesman Review


Find other news on this topic by clicking on the tags and category key words above.