Goods Trade Deficit Soars 12.8% In December: Year-Over-Year Exports Down 0.3%
In December, goods exports fell $4 billion while imports rose $5 billion. Year-over-Year exports are now negative.
The Census Department Advance Report on International Trade for December was released today after a government shutdown delay.
Advance International Trade in Goods
- The international trade deficit was $79.5 billion in December, up $9.0 billion from $70.5 billion in November.
- Exports of goods for December were $135.7 billion, $4.0 billion less than November exports.
- Imports of goods for December were $215.2 billion, $5.0 billion more than November imports.
- Agricultural exports fell 1.8%.
- Year-over-year exports are down 0.3%.
- Year-over-year imports are up 3.2%.
Trump Desperate for a Deal
As a tribute to Trump's tariff policies and China's retaliation, year-over-year agricultural exports are down a whopping 5.5%.
Note that US Farm Belt Bankruptcies Climb, Canada the Beneficiary of Trump's Trade Policy.
Trump is desperate for a deal with China. So expect one: Hooray! "Substantial" Progress With China (Just Don't Ask Where).
And don't expect a huge victory no matter what Trump proclaims.