Brief AAM Statement on Latest Monthly U.S. Trade Deficit with China
The monthly U.S. goods trade deficit with China increased by $100 million in November 2010, to $25.6 billion.
Said Scott Paul, Executive Director of the Alliance for American Manufacturing (AAM):
"Our trade deficit means lost jobs, closed factories, and a downward pressure on economic growth. President Obama has a unique opportunity to help change this course. In his meeting with Chinese President Hu Jintao next week, President Obama should lay out the consequences for Beijing if it continues its mercantilist ways.
"China accounts for more than 80 percent of the goods trade deficit, excluding petroleum. Lowering our trade deficit with China by putting an end to its currency manipulation, WTO-illegal industrial subsidies, and indigenous innovation requirements will boost the U.S. economy."