New record monthly trade deficit with China: Alliance for American Manufacturing (AAM) Statement.

Tue, 12/11/2012

The latest monthly U.S. trade figures were released this morning by the Department of Commerce:

  •  The monthly U.S. international trade deficit in goods and services rose to $42.2 billion in October, up from $40.3 billion in September.
  • The goods deficit with China continued its rapid ascent, rising to $29.5 billion in October, up from $29.1 billion in September.  This is the largest single monthly goods deficit with China in U.S. history

Said Scott Paul, Executive Director of the Alliance for American Manufacturing (AAM):

“There’s no doubt that our nation is on a fiscally unsustainable path.  But when we continue to pile up trade deficits, it makes the job of balancing the books even more difficult.

“No one in Washington seems to notice that we are on pace for another record-breaking year…and not in a good way. 

“Our trade deficit with China shows no signs of abating.  I think it’s well past time to shelve the idea of simply doubling exports.  Instead, we need a national strategy to dramatically reduce our trade deficit.”

 

 

 

@KeepitMadeinUSA on Twitter

  • The U.S. is competing without a manufacturing strategy, and the trade numbers show we’re getting our butts kicked. http://t.co/mtxfMmXMkq 14 hours 52 min ago
  • So much for that "rising star" thing. http://t.co/mtxfMmXMkq 15 hours 36 min ago
  • What made @papergirlmacy cry while working on the book Factory Man? @NewsHour has the answer: http://t.co/R56dMJNgeF 16 hours 32 min ago
  • Love this! College's new mobile manufacturing training lab provides on-demand training in advanced manufacturing: http://t.co/hGsSIwqgKa 17 hours 38 min ago
  • "We were going to compete, and remain an American manufacturer, and from that time on, we never looked back." http://t.co/3PuYpsFqT9 18 hours 23 min ago
  • More buzz for Factory Man, this time from @NewsHour. "It’s the largest employer in town. But it wasn’t & isn’t easy." http://t.co/3PuYpsFqT9 19 hours 14 min ago
  • @RossiMachServ How wonderful! We'd love that. 19 hours 17 min ago
  • The U.S. might be a "rising star" in manufacturing, but there's still a lot of work left: http://t.co/b6c8JbKyEX 1 day 12 hours ago
  • If the United States wants to maintain its "rising star" manufacturing status, it must do a few key things: http://t.co/yVBTFyywYF 1 day 15 hours ago
  • That's right: the U.S. is a "rising star" in manufacturing. But there's more to do to increase our competitiveness: http://t.co/yVBTFyywYF 1 day 16 hours ago