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