AAM's Scott Paul on KFNN Phoenix Radio Show, Oct. 16, 2012: America's trade deficit with China keeps growing
Alliance for American Manufacturing (AAM) Executive Director Scott Paul was interviewed recently on KFNN 1510 AM Phoenix.
Paul commented on the latest monthly U.S. trade figures, which showed that in August 2012, the U.S. racked up an international goods and services trade deficit of $44.2 billion. The monthly goods deficit with China fell slightly to $28.7 billion in August, down from $29.4 billion in July. This is still the second highest monthly trade deficit with China in 2012.
As Paul observed: "America will never see robust growth unless we manage to reduce the trade deficit. China continues to be the main impediment to progress. While trade actions on Chinese auto parts and solar panels are a good and welcome start, we need to see a comprehensive approach. Our goal shouldn’t simply be to double exports—we must erase the trade deficit."
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