U.S. trade deficit rises in February: Alliance for American Manufacturing (AAM) Statement

Thu, 04/03/2014

This morning, the U.S. Department of Commerce released the latest monthly U.S. trade figures.

  • In February, the overall U.S. international goods and services trade deficit of $42.3 billion, up from $39.3 billion in January, revised.
  • The combined January and February U.S. goods deficit with China was $48.7 billion, only slightly lower than the $51.2 billion over the same period in 2013.

Said Alliance for American Manufacturing (AAM) President Scott Paul:

"One of the more overlooked factors in sluggish post-recession job growth is the rising trade deficit. It's not a good sign when the trade deficit goes up, because imbalances don't help create sustainable middle-class jobs.

"Until we get our own house in order by investing smartly in infrastructure, innovation, and workers, I see no reason for optimism. And with no apparent willingness on the part of the administration or Congress to systematically lower bilateral deficits with countries like China, I see plenty of reason to be pessimistic.

In a recent op-ed in POLITICO, Paul urged President Obama to tackle China's ongoing currency manipulation, which has cost the U.S. millions of jobs.

 

 

 

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  • Trade agreements shld have mechanisms allowing U.S. to take action if currency manipulation is found to be taking place, @ScottPaulAAM says. 1 day 16 hours ago
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