U.S. Trade Deficit Reaches New High Under President Trump: AAM Statement
The U.S. trade deficit grew to $48.7 billion in October, according to the latest Commerce Department data. October marks the highest deficit under the Trump presidency with the U.S.-China deficit increasing by $2.1 billion to $31 billion in October.
Said Alliance for American Manufacturing (AAM) President Scott Paul:
"President Trump likes breaking records, but this isn't one he should be proud of.
"The president has missed multiple opportunities to put a dent in the trade deficit by holding China accountable for its murky trade practices. Instead, his attention has been diverted elsewhere while he pulls back on key promises to the working class like taking action on out-of-control steel imports.
"Investigations alone don't equate meaningful action, and the growing trade deficit demonstrates this.
"Talk is cheap, and until Trump stands up to China's predatory trade practices, American factory jobs will continue to be at risk."