US Trade Deficit Reaches Record Highs

US Trade Deficit Reaches Record Highs

(TargetLiberty.org) – The latest trade figures are in – and they’re bad news for the US economy. After four years of America First policies from the Trump administration, the Democrats are back in charge and money is flowing out of the country faster than ever. Coincidence? Maybe.

According to an April 8 announcement from the Commerce Department, the US trade deficit jumped sharply in February. In January, we imported $67.8 billion more in goods and services than we exported; by the end of February, that number had climbed 4.8%, to $71.1 billion.

Overall, the global economy is recovering well from the COVID-19 pandemic, with international trade down just 1.8% over the same time last year. But, that isn’t translating into recovery for US exporters. Even though imports actually fell in February – possibly due to decreased spending power as lockdowns still plague many liberal-run states – exports fell even faster. February’s deficit is the highest ever recorded, and that could be a bad sign for the future of US manufacturing.

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