Brief AAM Statement on Latest Monthly U.S. Trade Figures
The monthly U.S. trade deficit increased in March 2011 to $48.2 billion. The monthly goods deficit with China was $18.1 billion, or 75% of the total non-oil goods deficit.
Said Scott Paul, Executive Director of the Alliance for American Manufacturing (AAM):
“A rising trade deficit is an indicator of productive jobs leaving the country. In Washington, it should be all hands on deck to assemble a strategy to lower our trade deficit and get the nation back to work.
“We just watched a Chinese delegation visit Washington for a polite discussion. Meanwhile, three-fourths of our non-oil goods deficit is with China alone. Beijing must be gleeful that this week’s ineffectual talks have allowed the status quo to continue.
“It’s up to the Congress now to take firm action. We look forward to working with Members on both sides of the aisle who are currently lining up support for tough measures on currency, Buy America, infrastructure investment, and tackling illegal subsidies.”