US Trade Deficit Highest in 12 Years. Another Trump Promise Broken.

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Trade Deficit

In July 2020, the US Trade Deficit reached its highest point since July 2008. In 2016 Donald Trump promised to bring down the trade deficit “fast”. Another promise broken.

BONUS FACT: The U.S. / China trade deficit went up until 2019 where it dropped 19%. Sounds good, right? Not really, Trump’s trade war also resulted in $13.7 Billion less in exports to China from the U.S. as China looked for other sources to avoid tariffs.

Trade Deficit

Fact Quotes

The Commerce Department reported that the July deficit, the gap between what America buys and what it sells to foreigners, was 18.9% higher than the June deficit of $53.5 billion. It was the largest monthly deficit since July 2008 during the 2007-2009 recession.
Associate Press