Second highest monthly trade deficit with China in U.S. history: Alliance for American Manufacturing (AAM) Statement.
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 fell to $41.5 billion in September, down from $43.8 billion in August.
- However, the goods deficit with China continued its ascent, rising to $29.1 billion in September, from $28.7 billion in August. This is only the second time in U.S. history that the monthly trade gap with China has exceeded $29 billion.
Said Scott Paul, Executive Director of the Alliance for American Manufacturing (AAM):
“America’s trade deficit with China continues to climb, hitting a near record in September.
“President Obama has a lot of work ahead of him in his second term. His goal of adding 1 million new manufacturing jobs will be virtually impossible to achieve unless he takes strong action to address China’s cheating, particular on currency manipulation.
“We look forward to working with President Obama to strengthen America’s manufacturing base.”