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"trade gap" Definitions
  1. the amount by which the value of a country's visible imports exceeds that of visible exports; an unfavourable balance of trade
"trade gap" Synonyms
balance of trade balance of payments trade deficit trade balance visible balance bop

411 Sentences With "trade gap"

How to use trade gap in a sentence? Find typical usage patterns (collocations)/phrases/context for "trade gap" and check conjugation/comparative form for "trade gap". Mastering all the usages of "trade gap" from sentence examples published by news publications.

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This compared with a $62.23 billion trade gap in January.
So far this year, the trade gap looks much worse.
The trade gap has now widened for five straight months.
The trade gap fell 5.23 percent to $42.4 billion in November.
The trade gap fell 5 percent, to $42.4 billion, in November.
The international trade gap shrank in September, while wholesale inventories rose.
Economists had expected the trade gap to be about $40 billion.
Economists had expected the trade gap to be about $383 billion.
The trade gap has now widened for a five straight months.
China&aposs global trade gap narrowed by 39 percent to $24.9 billion.
That comes, though, as the trade gap between the two nations widens.
Trump has demanded that China cut the trade gap by $100 billion.
The trade gap continues to widen a year into the Trump presidency.
India is alarmed at its rising trade gap with China (see article).
The trade gap in merchandise is the highest in U.S. history (Reuters).
The trade gap also often increases when U.S. economic growth is strong.
The trade gap with Mexico last year was a $55.6 billion deficit.
Part of the rise in the trade gap reflected higher commodity price increases.
The Commerce Department said the trade gap dipped 224.6 percent to $43.7 billion.
Economists had forecast the overall trade gap falling to $44.8 billion in February.
The increase in the overall trade gap was the biggest since March 2015.
The trade gap dropped 2.1 percent to $46.2 billion, the smallest since September.
Trump has demanded that the China cut the trade gap by $100 billion.
He has also criticized the trade gap between the world's two largest economies.
But the trade gap isn't driven just by the details of trade arrangements.
The goods trade gap with the European Union jumped 20% to $16.4 billion.
More production would then be left for exports to narrow the trade gap.
The politically sensitive trade gap with China widened by 0.9 percent to $33.5 billion.
Part of the rise in the trade gap in January reflected higher commodity prices.
"   CNBC: Trump says he expects trade gap with Japan to be "straightened out rapidly.
This trade gap is closely watched due to growing tensions between the two countries.
So we're selling less to China and our trade gap is widening even more.
Part of the rise in the trade gap in December reflected commodity price increases.
Economists polled by Reuters had forecast the trade gap widening to $52.0 billion in December.
The Commerce Department said on Friday the trade gap increased 22015 percent to $22.0 billion.
The merchandise-trade gap with China narrowed to $34.7 billion in February from $35.5 billion.
U.S. Trade Representative Robert Lighthizer last month warned Hanoi over the "unsustainable" bilateral trade gap.
Economists polled by Reuters had forecast the trade gap widening to $2202 billion in May.
The Commerce Department said on Wednesday the trade gap increased 229.48 percent to $24.71 billion.
Economists polled by Reuters had forecast the trade gap widening to $22 billion in February.
The Commerce Department said on Wednesday the trade gap widened 3 percent to $40.73 billion.
Economists polled by Reuters had forecast the trade gap decreasing to $39.3 billion in August.
The Commerce Department said on Wednesday the trade gap fell 210 percent to $21.1 billion.
Economists polled by Reuters had forecast the trade gap widening to $20113 billion in November.
The Commerce Department said on Friday the trade gap rose 2.7 percent to $43.4 billion.
Economists polled by Reuters had forecast the trade gap rising to $44.5 billion in March.
The Commerce Department said on Friday the trade gap increased 23.7 percent to $228.9 billion.
The Commerce Department said on Tuesday the trade gap increased 2.6 percent to $20033 billion.
Economists polled by Reuters had forecast the trade gap narrowing to $1.43 billion in January.
Economists polled by Reuters had forecast the trade gap narrowing to $57.0 billion in January.
The trade gap with the EU spiked 85033 percent to a record-high $17.6 billion.
Economists polled by Reuters had forecast the trade gap rising to $27.63 billion in April.
Economists polled by Reuters had forecast the trade gap narrowing to $20.9 billion in March.
The Commerce Department said on Thursday the trade gap decreased 2.3 percent to $46.5 billion.
Economists polled by Reuters had forecast the trade gap falling to $21.5 billion in May.
The Commerce Department said on Friday the trade gap widened 3.2 percent to $50.5 billion.
Few experts see tariffs as an effective tool to narrow the so-called trade gap.
Economists polled by Reuters had forecast the trade gap widening to $54.0 billion in May.
The Commerce Department said on Friday the trade gap surged 262.42 percent to $22014 billion.
The Commerce Department said on Wednesday the trade gap rose 21.0 percent to $23.1 billion.
The Commerce Department said on Wednesday the trade gap rose 0.3 percent to $43.7 billion.
The Commerce Department said on Friday the trade gap surged 7.3 percent to $46.3 billion.
Economists polled by Reuters had forecast the trade gap narrowing to $2136.1 billion in October.
The U.S.-China trade gap hit an all-time high of $275.81 billion last year.
The Commerce Department said on Tuesday the trade gap increased 5.3 percent to $53.1 billion.
The Commerce Department said on Wednesday the trade gap jumped 22014 percent to $257.53 billion.
Economists polled by Reuters had forecast the trade gap would widen to $20183 billion in April.
The $502.3 billion deficit last year was up from a 2015 trade gap of $500.4 billion.
Last year's deficit of $347 billion accounted for 1.43 percent of the total U.S. trade gap.
Economists polled by Reuters had forecast the trade gap little changed at $42.5 billion in November.
Economists polled by Reuters had forecast the trade gap would widen to $12.43 billion in December.
The Commerce Department said on Thursday that the trade gap declined 2.7 percent to $42.4 billion.
When adjusted for inflation, the trade gap narrowed to $254.50 billion from $78.2 billion in March.
Economists polled by Reuters had forecast the trade gap would shrink to $54.6 billion in June.
When adjusted for inflation, the trade gap narrowed to $2.23 billion from $22.2 billion in March.
The trade gap with Mexico surged 15.8 percent to $7.3 billion, the highest since October 2007.
In theory, the rise of domestic energy production was supposed to help narrow the trade gap.
The widening trade gap chopped off 1.78 percentage points from GDP growth in the third quarter.
Economists polled by Reuters had forecast the trade gap would widen to $21 billion in April.
The Southeast Asia's biggest economy has been under pressure to boost exports as its trade gap widens.
The true bilateral trade gap is smaller than reported, since Chinese exports contain many inputs from elsewhere.
TRADE GAP NARROWS The Chinese government has offered few details about the state of negotiations this week.
At the heart of the trade conflict is the widening trade gap between the U.S. and China.
The Commerce Department said the trade gap narrowed 2257.4 percent to $22.8 billion, the smallest since September.
The Commerce Department said the trade gap increased 2229 percent to $22016 billion, the highest since January.
France posted its biggest monthly deficit in April 2011 with a trade gap of 7.024 billion euros.
If the pound worsens further, the trade gap could become wider as foreign goods get more expensive.
One company that is helping the administration close the automotive trade gap with Germany is Mercedes-Benz.
Economists polled by Reuters had forecast the trade gap would widen slightly to $285.7 billion in August.
The trade gap widened to $57.7 billion in February, which was the highest level since October 2008.
The trade deficit in vehicles and parts is more than the entire $42.2 billion U.S.–Mexico trade gap.
India's trade gap with China has widened to $51 billion, a nine-fold increase over the past decade.
The trade gap contributed 0.94 percentage point to GDP rather than the 0.23 percentage point estimated last month.
The Commerce Department said on Monday the goods trade gap increased 1.7 percent to $65.1 billion last month.
With the U.S. domestic demand revving up a bit, America's trade gap this year could be much wider.
The trade gap remains below one of the thresholds that could trigger punitive moves by the U.S. Treasury.
The Commerce Department said the U.S. goods trade gap grew to $57.5 billion from $56.9 billion in March.
When adjusted for inflation, the trade gap increased to $79.3 billion in June from $75.5 billion in May.
In the first 11 months of 2019, Southeast Asia's largest economy recorded a trade gap of $3.17 billion.
In the first 10 months of 2019, Southeast Asia's largest economy recorded a trade gap of $1.78 billion.
The trade gap contributed 0.94 percentage point to GDP rather than the 0.96 percentage point estimated last month.
Boosting the budget deficit to 5% of GDP in 2019 will, other things being equal, widen the trade gap.
Last year, the U.S. had an $83 billion trade gap in advanced technology products, according to the Census Bureau.
In other U.S. economic news, the Commerce Department said the trade gap grew by 2.2 percent to $45.7 billion.
In a second report, the Commerce Department said the trade gap increased 213.8 percent to $219.4 billion in May.
The Commerce Department said on Wednesday the trade gap dropped 21.3 percent to $20.3 billion, the smallest since September.
Foreigners will get those dollars by selling more goods and services to Americans, which will widen the trade gap.
That's a 6 percent increase from the same period of 2016, and 76 percent of America's total trade gap.
With additional tariffs about to take effect against the EU, the trade gap also closed across much the region.
That trade gap has been hurting the valuation of the rupee, the worst performing major Asian currency in 2018.
Education export dollars topped $35 billion in 2015, and the trade gap is lopsidedly in our favor -- and growing.
According to a Reuters survey, the trade gap likely increased to $10003 billion in February from $21000 billion in January.
This will artificially inflate the American trade gap with Mexico and manufacture the illusion of a trade deficit with Canada.
The trade gap ballooned to $59.9 billion at the end of 2018, which was the largest gap in 10 years.
The Commerce Department said on Friday the trade gap narrowed 22.8 percent to $24.1 billion, the smallest since February 232.5.
The Commerce Department said on Tuesday the trade gap widened 8.6 percent to $48.7 billion, the highest level since January.
The United State and China failed last month to agree on major new steps to reduce the U.S. trade gap.
The Commerce Department said on Thursday the trade gap dropped 21.9 percent to $226.3 billion, the lowest level since September.
The wider goods trade gap and weak inventory investment prompted economists to slash their fourth-quarter gross domestic product estimates.
At a $491 billion deficit, it's about half of what Mr. Trump regularly — and incorrectly — cites as our trade gap.
Their reaction could complicate Trump's efforts to win concessions from China that would narrow a $335 billion annual trade gap.
The Commerce Department said on Friday the trade gap narrowed 22.0 percent to $20.4 billion, the smallest since October 2258.4.
The Commerce Department said on Tuesday the trade gap rose 17.8 percent, the largest increase since March 2015, to $22018 billion.
The French government has worked to reduce the trade gap with China, which is a major contributor to its overall deficit.
On current trends, we shall probably end up with a trade gap of $750 billion by the end of this year.
The wider trade gap in June, compared to May, reflected a slight drop in exports and a slight rise in imports.
Data for September was revised to show the trade gap shrinking to $240 billion instead of the previously reported $136.13 billion.
The Commerce Department said on Friday the trade gap decreased 232.6 percent to $43.6 billion, the lowest level since October 2016.
The Commerce Department said on Wednesday the trade gap jumped 2211.1 percent to $20.7 billion, widening for a second straight month.
And while oil imports fell by volume in May, an increase in prices contributed to the expanded trade gap in May.
Data for September was revised to show the trade gap shrinking to $1.83 billion instead of the previously reported $52.5 billion.
Data for September was revised to show the trade gap shrinking to $51.1 billion instead of the previously reported $52.5 billion.
Data for March was revised up to show the trade gap increasing to $51.9 billion instead of the previously reported $50.0 billion.
He campaigned on remedying a wide trade gap currently in favor of Beijing, including keeping auto manufacturing jobs in the United States.
President Donald Trump has vowed to shrink the trade gap by shutting out more unfairly traded imports and renegotiating free trade agreements.
Data for April was revised higher to show the trade gap widening to $51.2 billion instead of the previously reported $50.8 billion.
The Commerce Department said on Friday the trade gap narrowed 22.4 percent to $21.9 billion, declining after three straight months of increases.
Economists polled by Reuters had forecast the trade gap decreasing to $42.7 billion in July after a previously reported $44.5 billion shortfall.
Data for April was revised higher to show the trade gap widening to $21.5 billion instead of the previously reported $2023 billion.
Economists polled by Reuters had forecast the trade gap decreasing to $37.8 billion in September after a previously reported $40.7 billion shortfall.
The trade gap increased 6.4 percent to a six-month high of $53.2 billion in August, the Commerce Department said earlier Friday.
China unexpectedly posted its first trade gap in three years in February as a construction boom pushed imports much higher than expected.
Data for February was revised slightly to show the trade gap falling to $49.3 billion instead of $49.4 billion as previously reported.
Data for May was revised slightly to show the trade gap widening to $23.1 billion instead of the previously reported $55.5 billion.
The trade gap surged 6.4 percent to a six-month high of $53.2 billion in August, the Commerce Department reported on Friday.
Data for June was revised down to show the trade gap shrinking to $55.5 billion instead of the previously reported $55.2 billion.
Its solution requires a bilateral agreement to rapidly and drastically narrow that trade gap — which stands at hundreds of billions of dollars.
Economists polled by Reuters had forecast the trade gap widening to $229.8 billion in June after a previously reported $41.1 billion shortfall.
The goods trade gap, which has fallen for three straight months due to declining imports, surged 23.1% to $68.3 billion last month.
Before long, the trade gap will narrow, as the U.S. becomes more competitive and the most hospitable investment environment in the world.
When adjusted for inflation, the trade gap narrowed to $75.3 billion, the lowest level since March 2017, from $77.5 billion in April.
But the April U.S. trade deficit with China jumped nearly 30% to $26.9 billion, while the trade gap with Mexico fell sharply.
Data for March was revised up to show the trade gap increasing to $2218 billion instead of the previously reported $2000 billion.
"Strenuous effort is underway, but it is not practical to set an exact deadline," Mr. Ross said of closing the trade gap.
But the most important difference is this: The U.S. trade deficit with China was more than double the American trade gap with Europe.
Kudlow also said the Chinese had offered a proposal to reduce their trade gap with the United States by more than $200 billion.
The U.S. reported its trade gap with China rose 12.8 percent to $31.3 billion in January, with China-bound exports dropping 13.4 percent.
But the trade gap between the United States and China increased sharply, underscoring the economic tensions between the world&aposs two biggest economies.
The acrimonious U.S.-China trade gap is up 15% from a year ago and China is on pace to post another record surplus.
The Commerce Department said on Friday the trade gap increased 8.7 percent to $44.5 billion in June, the biggest deficit since August 2015.
November's U.S. trade gap in goods and services fell 11.4 percent to a seasonally adjusted $49.3 billion, about $5 billion narrower than expected.
Data for December was revised slightly down to show the trade gap widening to $2258.5 billion instead of the previously reported $23.0 billion.
The foreign-trade gap in goods and services expanded 8.6 percent from September to a seasonally adjusted $48.73 billion, according to the report.
Although the majority of cars made by German brands in the United States are exported overseas, there is a trade gap with Germany.
Anyway, experts say, the United States can't produce enough goods to sell to the Chinese in order to close the bilateral trade gap.
The Commerce Department said on Friday the trade gap increased 25.19 percent to $2.83 billion in June, the biggest deficit since August 22.8.
The trade gap with Mexico narrowed 2100 percent to $5.5 billion while the shortfall with Canada shot up 57.6 percent to $3.1 billion.
Chinese negotiators may have proposed radically shrinking Beijing's trade gap with the U.S., and that would look like a win for President Trump.
In 2018, Greece's current account showed a deficit of 5.3 billion euros, up 2.1 billion year-on-year as the trade gap widened.
Last year, Greece's current account showed a deficit of 5.3 billion euros, up 2.1 billion year-on-year as the trade gap widened.
When adjusted for inflation, the trade gap increased to a five-month high of $21.3 billion in July from $79.3 billion in June.
In fact, it has spiked more than $100 billion since Trump took office, according to the Census Bureau, which tracks the trade gap.
The trade gap, or how much the U.S. imports versus how much it exports, widened by 12 percent last year, to $566 billion.
US Commerce Secretary, Wilbur Ross arriving in China today in hopes of negotiating a deal that would close a large trade gap with China.
Washington wants Beijing to improve market access and intellectual property protections for U.S. firms, cut industrial subsidies and slash a $375 billion trade gap.
The Federal Reserve has responded by tightening monetary policy to keep inflation in check, pushing up the exchange rate and exacerbating the trade gap.
Washington wants Beijing to improve market access and intellectual property protections for U.S. companies, cut industrial subsidies and reduce a $375 billion trade gap.
Trump is demanding Beijing improve market access and intellectual property protections for U.S. companies, cut industrial subsidies and slash a $375 billion trade gap.
The trade gap had been expected to come in at around $57.5 billion, nearly in line with the $57.53 billion reported a month earlier.
Washington is demanding Beijing improve market access and intellectual property protections for U.S. companies, cut industrial subsidies and slash a $375 billion trade gap.
The Commerce Department said on Tuesday the trade gap fell 13.9 percent to $40.4 billion, the smallest since February 2015, also as exports fell.
But so far this year, the U.S. trade gap of $405.2 billion this year is up more than 9 percent from January-September 2016.
The U.S. advance June goods trade deficit came in at $63.3 billion, widening from the revised $61.1 billion trade gap reported a month earlier.
Separately, the Commerce Department said in its advance economic indicators report that the goods trade gap surged 6.33 percent to $72.2 billion last month.
Meanwhile, the U.S. trade gap widened a five-month wide in May, which was likely a drag on economic growth in the second quarter.
China has offered to increase imports of U.S. agriculture, energy and some industrial goods to narrow the trade gap, over a six-year period.
In a separate report on Thursday, the Commerce Department said the trade gap declined 2.7 percent to $42.4 billion, the smallest since September 2016.
But the French trade deficit with China – 29.2 billion euros in 2018 – is almost four times larger and represents France's largest bilateral trade gap.
He added that the United States cannot tolerate the trade gap between what it exports to China and what it imports from that country.
Instead, they see the trade gap widening significantly — from $22.3 billion in 22020 to $23 billion in 2019 and to $1.022 trillion in 2020.
JAKARTA (Reuters) - Indonesia's trade gap widened sharply in January as falling metals prices weighed on exports, data from the statistics bureau showed on Monday.
Washington wants Beijing to improve market access and intellectual property protections for U.S. firms, cut industrial subsidies and slash a $267-billion trade gap.
That gave China a huge advantage of a $344.5 billion trade surplus, a number that accounts for nearly one-half of America's total trade gap.
The net effect could make the trade gap appear larger, according to economists, because such goods would be counted when imported but not when exported.
But the improvement in the internal balance has come at the expense of a deterioration in the external balance, with the trade gap widening significantly.
Kan was referring to government data released last Thursday that showed the U.S. trade gap deteriorated to its worst level in 10 years in October.
The Commerce Department says the September trade gap in goods and services —the difference between exports and imports — was up from $42.8 billion in August.
The Republican president, seeking to slash a $375 billion trade gap with China, has imposed tariffs on $250 billion of Chinese imports to force concessions.
Meanwhile, the U.S. trade gap widened to a five-month high in May, which was likely a drag on economic growth in the second quarter.
He renewed his desire for a larger purchase deal in recent weeks, they said, following data that revealed the U.S.-China trade gap was widening.
Trump's strong desire to narrow the expanding trade gap with China has led to tit-for-tat tariffs of $50 billion imposed by each country.
A large trade gap had been expected by market participants after a report last Thursday showed a widening in the fourth quarter current account deficit.
In March, the trade gap with China fell $6.2 billion to $26 billion, which is still easily the largest with any country in the world.
Most economists do not see the trade gap as money "lost" to other countries, nor do they worry about trade deficits to a large degree.
Only a small group of experts share Mr. Trump's fixation, and few see tariffs as an effective tool to narrow the so-called trade gap.
Rupkey said the surprise jump in the trade gap now has made it a toss up for whether growth will be above or below 2%.
Washington is demanding Beijing to improve market access and intellectual property protections for U.S. companies, cut industrial subsidies and slash a $375 billion trade gap.
Economists polled by Reuters had forecast the trade gap widening to $22.9 billion in January from a previously reported $53.1 billion in the prior month.
In July, the trade gap with Mexico narrowed 25.3 percent to $5.5 billion while the shortfall with Canada shot up 62.423 percent to $3.1 billion.
The resulting larger trade gap sliced off 1.91 percentage points from GDP growth in the third quarter, instead of the 1.78 percentage points reported last month.
The Commerce Department said in its advance report on Wednesday that the goods trade gap fell to $56.90 billion last month from $63.44 billion in February.
Just last month, Beijing had been encouraging them to buy more U.S. coal to narrow the trade gap, four sources with knowledge of the plan said.
Economists boosted their forecasts for U.S. fourth quarter growth Wednesday, after a surprise narrowing of the trade gap in November due to a drop in imports.
First-quarter growth is now tracking at just 0.9 percent, after new data showed surprising weakness in consumer spending and a wider-than-expected trade gap.
January's international trade data could show the U.S. trade gap was again affected by trade friction and tariffs when it is reported Wednesday morning, economists said.
But the planned fiscal stimulus will come at a time when the economy is at full employment, which will boost imports and widen the trade gap.
"The U.S. demand of cutting the trade gap is baseless, and can't be done by the Chinese government," said He Weiwen, the former commerce ministry official.
Taiwan, as part of a public comment process on its trade with the United States, said in May that arms sales narrow the bilateral trade gap.
Remember, last year Europe and East Asia ran a combined $640.8 billion trade surplus with the U.S., accounting for 79.1 percent of America's total trade gap.
Even if we were able to close the trade gap purely through increasing exports, the effect of this relative to the overall economy would be small.
A significant chunk of the United States trade gap has been caused by companies overstating imports from their foreign subsidiaries and underreporting exports, Mr. Auerbach said.
The trade gap narrowed in April and May as farmers front-loaded soybean exports to China before Beijing's retaliatory tariffs came into effect in early July.
It is obvious that political expediency took precedence over an agreement to close the U.S. trade gap with China as a matter of American national security.
The latest trade report showed the U.S.-China trade gap jumped 19.4 percent to $29 billion in May, behind a 85033 percent increase in cellphone imports.
The deficit in November was $2.05 billion, larger than October's revised deficit of $1.77 billion and the biggest trade gap since July 2013, according to Refinitiv data.
The import-driven surge in the trade gap reported by the Commerce Department on Tuesday also suggests 3 percent annual economic growth may be hard to achieve.
Dollar appreciation and a growing trade gap are the only things that have allowed the United States to have fiscal stimulus AND low unemployment AND low inflation.
The smaller-than-forecast trade gap suggests that the advance GDP growth estimate could be bumped up when the government publishes its revised estimate later this month.
In 2017, the United States rang up a $375 billion trade deficit with China and a $69 billion trade gap with Japan, according to the U.S. Census.
But as trade tensions with the U.S. rise, China's exports have also risen, with the trade gap with the U.S. at a record $40.2 billion in September.
The politically sensitive U.S.-China trade deficit increased 12.4 percent to $27.6 billion in April, while the trade gap with Germany rose 4.3 percent to $5.5 billion.
Trade gap: The U.S. deficit widened to nearly $500 billion in the first nine months of 2019, suggesting that the trade wars haven't had the desired effect.
The Commerce Department said on Wednesday the goods trade gap jumped 12.8 percent to $79.5 billion in December, also with a boost from an increase in imports.
The monthly trade gap, which measures how much U.S. imports exceed U.S. exports, totaled $213 billion for China in June, up slightly from $220 billion from May.
China's surplus on its U.S. goods trade in the first 10 months of this year was $294.5 billion, and amounted to 40% of America's total trade gap.
In a separate report on Friday, the Commerce Department said the trade gap widened 3.2 percent in November to $50.5 billion, the highest level since January 2012.
The Commerce Department said the trade gap widened by 9.6% to $48.5 billion in January, the highest level since March 2012, and in line with economists' forecasts.
In a separate report on Friday, the Commerce Department said the trade gap increased 1.3 percent to $54.0 billion in September, widening for a fourth straight month.
The U.S. trade gap is bound to widen during the current quarter as retailers step up foreign purchases to manage their most active selling season of the year.
The foreign-trade gap for goods and services increased 9.6% from the prior month to a seasonally adjusted $48.49 billion in January, the Commerce Department said last Tuesday.
Other economists have also said that the the trade gap — which measures imports and exports between two countries — doesn't adequately reveal who's winning or losing in a relationship.
STRONG BUSINESS SPENDING In a separate report on Thursday, the Commerce Department said the U.S. trade gap declined 21.1 percent to $20.7 billion, the smallest since September 212.
In the first quarter of this year, the combined trade surpluses of China and the Germany-led European Union accounted for 62.4 percent of America's total trade gap.
STRONG BUSINESS SPENDING In a separate report on Thursday, the Commerce Department said the U.S. trade gap declined 21.1 percent to $20.7 billion, the smallest since September 212.
The two sides have discussed China's buying more than $1 trillion worth of goods over the next several years to help lower the trade gap between the countries.
The United States trade gap with China has narrowed, as more American products were shipped to Beijing ahead of the tariffs, which went into effect on July 26.
The politically sensitive goods trade gap with China dropped 11.6 percent to $25.9 billion, which will probably do little to ease tensions between the United States and China.
The Trump administration has long promised to eliminate the trade gap, citing it as evidence of the decline of American manufacturing and a troubling reliance on foreign goods.
Having covered 50 percent of India's trade deficit in the previous two years, remittances only covered 40 percent in 2015/16 even though the trade gap had shrunk significantly.
U.S. President Donald Trump said Monday he expects to get the trade gap with Japan "straightened out rapidly," adding that announcements on that could come as soon as August.
The Commerce Department said in its advance report on Wednesday that the goods trade gap tumbled 1.43 percent to $56.90 billion last month, the smallest deficit since February 2015.
In the first half of this year, America's trade deficit with Europe was running at an annual rate of $156.4 billion, or 22 percent of the total trade gap.
But some of the drag on growth from the goods trade gap and weak business spending on equipment could be offset by a strong increase in inventories in December.
Risks to the Chinese economy in 2018 include trade protectionism as U.S. President Donald Trump's administration bares its teeth to address the yawning trade gap between the two countries.
The U.S. trade deficit with Mexico — whose economy is smaller than that of Texas — stood at $22019 billion last year, dwarfed by the $347 billion trade gap with China.
Canada's trade gap unexpectedly widened to a record deficit in June as imports of motor vehicles and parts jumped, while the economy also surprisingly shed 31,153 jobs last month.
Authorities have also sped up negotiations for free trade deals in order to gain better access for exports, in a bid to reduce the trade gap and support the rupiah.
The import-driven trade gap is expected to worsen the current account deficit this year, which could spell more trouble for the peso, one of Asia's worst performers this year.
Trump blames U.S. trade policy for the loss of American factory jobs and the import-driven surge in the trade gap could intensify the debate on a cross-border tax.
"Closing the trade gap with China would create millions of jobs, as would lowering taxes, unleashing energy production, streamling regulations, and ending the fiscal drain of open borders," Miller added.
Alibaba co-founder Joseph Tsai told CNBC on Tuesday that the "structural issue" of the United States' trade gap with China will reverse itself as the Chinese ramp up imports.
While the deficit pointed to strong economic activity, the widening trade gap has added to worries the current account deficit could persist in 2018 and continue to pressure the peso.
Risks to the Chinese economy in 2018 include trade protectionism as U.S. President Donald Trump's administration looks likely to readdress the yawning trade gap between the two countries, Fenner added.
BOGOTA, Aug 2 (Reuters) - Colombia's current account deficit will expand to 4.4% of gross domestic product this year, because of a growing trade gap, the central bank forecast on Friday.
Reducing the trade gap is and should be an urgent priority, and our policies, investments and resources should go toward the segments of our economy that are consistently delivering results.
The Commerce Department said on Tuesday the goods trade gap jumped 6.5 percent to $68.3 billion last month amid an increase in imports of industrial supplies, consumer, and other goods.
One of the U.S. sources said U.S. aircraft maker Boeing would be a major beneficiary of the Chinese offer to narrow the trade gap if Trump were to accept it.
Data for February was revised slightly to show the trade gap widening to $21.8 billion, which was the highest level since October 2257.5, instead of the previously reported $0.93 billion.
Beatrice Tsai, a Taiwan finance ministry official, told reporters that arms sales have in the past been included in the trade figures and would contribute to a narrower trade gap.
JAKARTA (Reuters) - Indonesia's trade deficit is likely to have narrowed in December, following its largest trade gap in seven months in the prior month, a Reuters poll showed on Monday.
The deficit with those two large economic systems came in at $218 billion during the January-May period, accounting for nearly two-thirds (64 percent) of America's total trade gap.
America's trade deficit with them in the first half of the year came in at an annualized $432 billion and accounted for nearly 60 percent of the total trade gap.
But that may matter little to Mr. Trump, who has been largely focused on narrowing the trade gap between the two countries by getting China to buy more American products.
The U.S. trade deficit jumped in January to the highest level in nearly five years as a flood of mobile phones and other consumer products widened America's trade gap with China.
In the first eight months of this year, their U.S. business continued to flourish and the combined Chinese and European surpluses came in at two-thirds of the U.S. trade gap.
Most analysts, however, attributed the rare trade gap to distortions caused by the long Lunar New Year celebrations, which began in late January this year but fell in February in 212.8.
A fourth report from the Commerce Department showed the trade gap dipped 0.1 percent to $43.7 billion in March as both imports and exports fell, signaling slackening domestic and global demand.
The steadily worsening merchandise deficit is a sign domestic demand is outstripping the economy's productive potential, with excess demand leaking abroad through a widening trade gap and a higher exchange rate.
President Donald Trump has frequently cited China's $375 billion trade surplus with the U.S. as evidence of unfair trade practices, and is trying to use tariffs to narrow the trade gap.
Read MoreThe dollar is back in the driver's seat The trade gap, wider than most expectations, and the downward revision in January consumption prompted several cuts to first-quarter GDP estimates.
Some China trade watchers expressed scepticism that a $200 billion reduction in the trade gap could be achieved quickly and said the offer may include repackaged commitments previously announced by China.
Higher crude oil prices and a more than a quarter jump in volume from a year ago pushed India's petroleum imports to $9.29 billion, also helping to widen the trade gap.
Vietnam has been seeking to import more U.S. goods to help narrow the trade gap following threats by President Donald Trump to impose tariffs on its products amid the Sino-U.
Goods and services coming into the U.S. from China, Mexico and the European Union all hit record levels, which boosted the trade gap to $2628 billion from $28500 billion in September.
The latest news saw the U.S. trade gap narrow in November to its lowest level in three years, thanks largely to a continued slowdown in imports and an expansion in exports.
Goods and services coming into the U.S. from China, Mexico and the European Union all hit record levels, which boosted the trade gap to $48.7 billion from $44.9 billion in September.
Those unresolved trade and security problems will continue to unsettle the U.S. asset markets at a time when they are facing rising inflation, increasing budget deficits and a widening trade gap.
The trade gap in goods between the United States and China hit $20183 billion in 22018, deepening a bilateral deficit that has been a particular source of anger for Mr. Trump.
Trade Reality Check: Trump on $103 billion trade deficit By Tami Luhby, CNNMoney Trump once again blasted America's trade deals and once again gave the wrong figure for the nation's trade gap.
The economy grew quickly during the first three months of 2019 because of a surge in company inventories and a shrinkage in the trade gap, temporary factors that are likely to fade.
Many in the US business community however expect a more limited agreement -- perhaps including large Chinese purchases of US goods to narrow the trade gap -- that Trump will hail as historic nonetheless.
However, the report showed a record-breaking $891.3 billion trade gap for the U.S. in goods and services and a trade deficit with China for goods that hit a record $419.2 billion.
Economists estimate the widening trade gap chopped off almost 2 percentage points from GDP growth in the third quarter, which would reverse the 1.22 percentage point contribution in the April-June period.
The overall trade deficit continued to widen in the first nine months of 248, suggesting that President Trump's global trade wars have not had the desired effect of closing the trade gap.
India's rupee has been punished for the country's widening trade gap and swept into the broader emerging market turmoil caused by rising U.S. interest rates and an escalating U.S.-China trade conflict.
And then, think of this: The U.S. is now running huge trade deficits with countries refusing to finance the American trade gap by recycling their dollar income in purchases of Treasury's securities.
And, in view of the president's past rhetoric, it seems particularly galling that China's $375 billion surplus (an 8.1 percent increase from 2016) accounts for nearly half of America's widening trade gap.
Earlier on Thursday, data showing weaker-than-expected industrial output and a widening of Britain's trade gap also weighed on sterling, which has struggled to break past the "psychological" $1.30 mark this week.
Following three consecutive months of surpluses, Canada posted a trade gap of C$972 million ($724 million), Statistics Canada said on Tuesday, short of economists' expectations for a surplus of C$500 million.
That trade gap could reach $175 billion this year, the highest on record, even as the U.S. deficit with China has shrunk significantly because of the tariffs that Trump has imposed on Beijing.
U.S. President Donald Trump has vowed to shrink the trade gap through his "America First" trade policies, which aim to shut out more unfairly traded imports and renegotiate past U.S. free trade agreements.
The import-driven trade gap is expected to worsen the Philippines' current account deficit this year, which could put further pressure on the peso, one of Asia's worst performers so far this year.
For now, the dollar has stabilized from its recent decline after the U.S. trade gap shrank to its smallest in 13 months in March and factory orders grew 1.1 percent, more than analyst forecasts.
The investment would also help the United States export about 2 trillion won of U.S.-origin LNG per year and narrow a trade gap between the two countries, the company said in the statement.
It said that trade data accounting for arms sales, and the after-sales services and personnel training that come with it, would further close the overall trade gap between Taiwan and the United States.
Washington and Beijing appeared increasingly to be headed toward a trade war after several rounds of negotiations failed to resolve U.S. complaints over Chinese industrial policy, market access, and a $375 billion trade gap.
That news comes against the backdrop of intensive conversations between Donald Trump's administration and Beijing about trade issues, including a demand from the American side to close the trade gap between the two countries.
The trade gap narrowed to $2900 billion last month, a drop of 220006 percent from February, the smallest shortfall since February 2202, when the deficit was $2628 billion, the Commerce Department reported on Wednesday.
NatWest economists said exports in inflation-adjusted terms may have risen by nearly 10 percent annualized in the second quarter, narrowing the trade gap and adding possibly a full point to the output gain.
Focusing on the trade gap is not likely to be "a non-starter" with EU, largely because it is dictated more by macroeconomic factors like national savings rates than trade policy practices, Rashish said.
This would mean duties on almost all of China's exports to the U.S. The U.S. wants Beijing to cut subsidies and improve market access to U.S. firms, and help bridge a $375 billion trade gap.
Lobbyists, company executives and U.S. lawmakers from both parties have urged Trump not to settle simply for Beijing's offers to make big-ticket purchases from the United States to help reduce a record trade gap.
A widening trade gap, a more sluggish consumer and softer business spending bit into fourth-quarter growth, and economists now expect that the economy grew at about 23 percent in the final quarter of 22018.
The United States had a record $375 billion trade deficit with China in 2017, which made up two thirds of a global $566 billion U.S. trade gap last year, according to U.S. Census Bureau data.
With another decision to delay or enact punitive tariffs looming, President Trump walked back on trade "truce" comments made by his team over the weekend and now demands that China begin closing the trade gap.
The U.S. is now stuck on a trade treadmill: This year and next, the Treasury is expected to sell to foreign creditors $1.2 trillion worth of debt instruments to finance America's sharply widening trade gap.
Meanwhile, as President Donald Trump demands that the U.S.-Japan trade gap be fixed, nearly two-thirds of Japanese firms saw no need to reduce Japan's trade surplus with the United States, the survey showed.
It also suggests that China is unlikely to use crude purchases to help plug a widening trade gap with the United States, which remains a core source of tensions between the world's top two economies.
Foreigners primarily get those dollars by selling more goods and services to Americans, which will necessarily widen the trade gap, an effect that many economists predicted at the time Mr. Trump signed the tax cuts.
Assuming that the U.S. is really serious about narrowing its huge trade gap with Japan, it seems that Tokyo would have to promptly redirect some $50 billion of its overseas sales to Asian and European destinations.
Second, Washington should take a close look at the reasons why we are running a half-a-trillion dollar deficit – 60 percent of our total trade gap – with the fastest-growing segment of the world economy.
" Trump had indicated during his Japan trip this week that there will be trade announcements between the two sides "probably in August," and that the trade gap between the two countries could be "straightened out rapidly.
So if U.S. interest rates were cut, and it had the intended effect of boosting equity valuations and stimulating domestic investment, the most likely outcome would be to strengthen the dollar and widen the trade gap.
A narrowing trade gap would also reduce the risk of Thailand being labeled by Washington as a currency manipulator - the last thing Thailand wants as it struggles with a baht currency that exporters find uncomfortably strong.
On the other hand, sluggish consumer spending and a large trade gap last month has slowed the Atlanta Fed's closely watched estimate of economic growth to only 0.6 percent in the first quarter of the year.
For now, the dollar has stabilized from its recent decline after the government said the U.S. trade gap shrank to its smallest in 7.53 months in March and factory orders grew 1.1 percent, more than analyst forecasts.
The surprise narrowing in the trade gap reported by the Commerce Department on Wednesday also implied a much stronger pace of U.S. economic growth in the first quarter than initially anticipated at the start of the year.
The trade gap narrowed to $40.4 billion last month, a drop of 85033 percent from February, the smallest shortfall since February 2015, when the deficit was $39 billion, the Commerce Department reported on Wednesday: http://bit.ly/1ZefqgU.
A U.S. delegation to China negotiating the yawning trade gap between the world's two largest economies is just beginning a long and protracted process with any concrete outcomes unlikely from this first round, experts said on Friday.
" And as The New York Times' economic correspondent Jim Tankersley has reported: "Most economists do not see the trade gap as money 'lost' to other countries, nor do they worry about trade deficits to a large degree.
His comment to reporters at the White House followed a report that the U.S. trade deficit surged to a record high in 2018, despite the Trump administration's "America First" policies, including tariffs, aimed at shrinking the trade gap.
Roach's comments come against a background of Trump having campaigned on remedying a wide trade gap in favor of Beijing that he said was spurred by moves to artificially weaken the yuan and restrict entry into home markets.
TOKYO (Reuters) - Half of Japanese companies expect new trade talks with Washington to boost their U.S.-bound exports, a Reuters poll found, despite President Donald Trump's intensifying drive to cut the trade gap between the two major economies.
I have penciled in a widening in the trade gap for the summer, but the volume of trade flows in future years could be sharply higher or lower, depending on the eventual result of the current trade negotiations.
ATHENS (Reuters) - Greece's current account deficit contracted in April compared to the same month a year earlier, thanks to a lower trade gap and an increase in the primary income surplus, the Bank of Greece said on Tuesday.
On downside risks, Morgan Stanley flags high house prices and Britain's big current account deficit — the trade gap reflecting the difference between what Britain pays for overseas goods and the amount of foreign money coming into the country.
BEIJING (Reuters) - China unexpectedly posted its first trade gap in three years in February as a construction boom pushed imports much higher than expected and as increasing U.S. protectionist rhetoric casts a spotlight on the export giant's trade position.
"Whilst reducing (the) trade gap could be the easier part to begin with, China is less likely to make concessions on its industrial policies such as 'Made in China 2025,' which might hinder discussion surrounding technology transfer," added Zhu.
The surprise second straight monthly narrowing in the trade gap reported by the Commerce Department on Wednesday was also driven by soaring aircraft exports, which are likely to reverse after Boeing halted deliveries of its troubled 737 MAX aircraft.
The China International Import Expo, announced by President Xi Jinping in 2017, is aimed at calming mounting foreign concern about China's trade practices and to signal its willingness to narrow its trade gap with the United States and others.
The trade gap between Britain and China has widened sharply in the past decade, with a drop in UK exports in 2015 pushing the deficit to over 25 billion pounds, equivalent to more than 1 percent of Britain's GDP.
U.S. negotiators have demanded new protections for American intellectual property, an end to forced technology transfers, curbs to Chinese industrial subsidies, broader access Chinese markets and increased Chinese purchases of U.S. goods to help balance a massive trade gap.
The world's two biggest economies have started 100 days of trade talks, which was agreed by Trump and Chinese President Xi Jinping when they met in Florida in April in an effort to reduce the massive U.S trade gap.
That will aggravate the ongoing trade disputes with Canada, Mexico, the European Union and China — the economies that account for 75 percent of the U.S. trade gap — with an unpredictable destabilizing impact on global flows of trade and finance.
"If the widening in the trade gap reported thus far in the quarter is sustained, trade would subtract about half a percentage point from second-quarter GDP growth," said John Ryding, chief economist at RDQ Economics in New York.
One key risk the Chinese economy will face this year is U.S. trade protectionism as President Donald Trump continues to signal displeasure over the yawning trade gap between the two countries, said Sian Fenner, senior economist at Oxford Economics.
MANILA, Dec 13 (Reuters) - The Philippine central bank said on Friday the country's current account deficit will widen next year, with the trade gap broadening as the government imports goods for an overhaul of infrastructure under President Rodrigo Duterte.
Some measures, including higher tariffs, have been imposed to curb unnecessary imports of consumer goods to contain the trade gap and support the rupiah that has lost around 11 percent of its value to the dollar so far this year.
LONDON, Sept 9 (Reuters) - Sterling climbed on Friday, on track for its fourth straight week of gains against the dollar, as investors trimmed bets against the currency ahead of data that could show the country's yawning trade gap shrinking in July.
Canada's trade gap widened in June as a drop in energy shipments pulled exports back from a record high but sustained jobs growth in July was enough to keep expectations alive for another interest rate increase in the coming months.
WASHINGTON (Reuters) - The U.S. goods trade deficit surged to a record high in 0003 as strong domestic demand fueled by lower taxes pulled in imports, despite the Trump administration's "America First" policies, including tariffs, aimed at shrinking the trade gap.
The politically sensitive goods trade gap with China - a focus of President Donald Trump's "America First" agenda - narrowed by the most in nearly three years as imports from the world's No. 2 economy plunged, Commerce Department data released on Wednesday showed.
ATHENS, May 22 (Reuters) - Greece's current account deficit widened in March compared to the same month a year earlier, as a higher trade gap more than offset an increase in the services balance surplus, the Bank of Greece said on Monday.
Trade issues with the European Union, another 19 percent of the U.S. trade gap, have been further complicated by Washington's exit from Iran's nuclear agreement, and threats that any foreign company doing business with Iran will be liable for U.S. sanctions.
Even though China is seen to have helped the U.S. deal with North Korea — which Trump earlier in his term factored into his trade thinking — it doesn't mean Trump will cut Beijing any slack regarding the trade gap, said Elms.
He has threatened to impose a tax on car imports from Mexico, criticized Japan's trade gap with the United States and most recently accused Japan, along with China and Germany, of devaluing their currencies to the detriment of U.S. companies.
But a list of demands that the group took into the meeting called for reducing the United States' trade gap with China by $200 billion over the next two years and a halt on Chinese subsidies for advanced manufacturing sectors.
The American economy still faces fundamental headwinds that are not likely to abate soon — like a persistent trade gap, low productivity and the long-term erosion of factory jobs that provide an economic lifeline to workers without a college degree.
The euro zone produces three quarters of the European Union's gross domestic product, and energy imports to the whole EU fell 7.7% in January-October, cutting the energy trade gap to 228.8 billion euros from 246.7 billion a year earlier.
The euro zone produces three quarters of the European Union's gross domestic product, and energy imports to the whole EU fell 7.7% in January-October, cutting the energy trade gap to 228.8 billion euros from 246.7 billion a year earlier.
The trade gap continues to widen despite the Trump administration's "America First" policies, which have left the United States embroiled in tit-for-tat tariffs with the European Union, Canada and Mexico as well as an escalating trade war with China.
Similarly, on the same day, the Czech prime minister said he would not compromise his budget balance with higher military spending, adding, with a tinge of sarcasm, that the U.S. was pushing arms sales on Europe to narrow the trade gap.
Xi did not openly reciprocate Trump's personal praise, maintaining his usual stern demeanor, although he grinned when Trump said he did not blame China for the trade gap and again when he said Xi was someone who got things done.
The United States, along with the European Union, have long complained about poor enforcement of intellectual property rights in China, and this has been a key complaint of the Trump administration, along with forced technology transfers and a yawning trade gap.
The U.S. trade deficit jumped to a 10-year high in October as soybean exports dropped further and imports of consumer goods rose to a record high, suggesting the Trump administration's tariff-related measures to shrink the trade gap likely have been ineffective.
Global financial markets have struggled since February in the face of signs Washington and Beijing were headed toward a trade war after several rounds of negotiations failed to resolve U.S. complaints over Chinese industrial policy, market access and a $375 billion trade gap.
Whatever it is, if the Chinese want a "win-win" trade deal, President Trump could start out by asking them to rebalance the U.S.-China trade relationship, where we now have a deficit of $347 billion, nearly half of our total trade gap.
China's microchip trade gap is, by some estimates, only around half of what the raw figures suggest, since a sizeable proportion of the imported chips that Chinese factories consume go into gadgets, such as Apple's iPhones and Lenovo's laptops, that are then exported.
NEW YORK, Feb 6 (Reuters) - The dollar clung to its earlier gains against a basket of currencies on Tuesday even as data showed United States' trade gap deteriorated to its widest level in nine years in December due to a surge in imports.
The politically sensitive trade gap with China narrowed sharply by 22015 percent from January to $22.7 billion ahead of a summit between President Donald Trump and China's Xi Jinping this week, although seasonal factors were likely behind the dramatic drop, economists said.
Japanese government officials say that should Japan come under fire for its trade gap, it is prepared to argue that its share of the U.S. trade deficit is much smaller than in the 1980s and 1990s, when it was harshly criticized by Washington.
President Trump has continuously complained about the trade deficit; on Wednesday, the Trump administration announced it may hit China with a 25 percent tariff on $200 billion in imports, if the two countries don't make progress in correcting their massive trade gap.
TOKYO (Reuters) - A U.S.-Japan agreement to start new trade talks avoids a bust-up over the allies' bilateral trade gap for now, but any deal would probably do little to narrow the U.S. trade deficit that infuriates U.S. President Donald Trump.
Trump on Tuesday wound up a four-day state visit featuring golf, sumo, a state dinner with Emperor Naruhito and inspections of U.S. and Japanese warships meant to showcase the alliance, but shadowed by a feud over the two-way trade gap.
Although exports for the year ending March were the weakest since 22020/22020, down 221 percent from a year ago, the narrowing trade gap showed that India - the world's third-largest crude importer - has been a net beneficiary of the collapse in oil prices.
NEW YORK (Reuters) - Barclays economists on Tuesday lowered their forecast for U.S. gross domestic product in the first quarter to an annualized rate of 1.6 percent from 1.9 percent after data showed the U.S. trade gap grew to a near five-year wide in January.
So the news this week that the trade gap between how much we import and how much we export soared to a $28500 billion last year was not a surprise to me, and it should come as no surprise to anyone who understands the economy.
China exported $523.7 billion to the US last year, Commerce data show, and the US trade gap with China was $335.7 billion last year -- by far the biggest imbalance with any trading partner but a figure smaller than the one cited by the President.
U.S. Vice President Mike Pence will attend the Singapore meetings instead of President Donald Trump, who has repeatedly panned existing multilateral trade pacts as unfair and has railed against China over intellectual property theft, entry barriers to American businesses and a yawning U.S. trade gap.
WASHINGTON (Reuters) - The U.S. trade deficit jumped to a 10-year high in October as soybean exports dropped further and imports of consumer goods rose to a record high, suggesting the Trump administration's tariff-related measures to shrink the trade gap likely have been ineffective.
Another option, if Abe determines that Trump is most concerned about the trade gap, is to increase imports of U.S. shale oil or gas on top of the investment package, according to a top executive at a major Japanese corporation who is close to Abe.
Even as Beijing has shown a willingness to talk and make peace offerings in the form of multibillion-dollar import contracts, it has held fast to its refusal to make any commitment for a fixed reduction in its trade gap with the United States.
He pointed to the president's recent decision to impose tariffs on imports of solar panels and washing machines, as well as ongoing renegotiations of trade deals with Canada, Mexico and South Korea, as ways in which the United States would narrow the trade gap.
First, China — with its systematic, excessive and growing trade surpluses — should act according to the rules of international trade adjustment to promptly and meaningfully narrow its trade gap with the U.S. Large volumes of U.S. farm and energy products are now ready to go to China.
A day later, the Commerce Department reported the U.S. trade gap narrowed for the first time in November, but the overall level of trade deficit has remained elevated despite the Trump administration's "America First" policies which include slapping of tariffs on China and other major trade partners.
China prepares up to $9003 billion in trade concessions, but skepticism abounds (The New York Times) … China denies offering $200 billion in trade concessions (Reuters) … U.S. farms and factories cannot produce enough to meet White House goal to close trade gap with China (The Wall Street Journal).
For example, part of the solution to America's $257.7 billion trade deficit with China (46 percent of our total trade gap) during the first three quarters of this year may be in answering Mr. Modi's "Make in India" call as he seeks to create the world's "most open" economy.
The United States was expected on Friday to unveil a final list of tariffs on about $50 billion worth of Chinese goods as the two countries appeared to be headed toward a trade war amid U.S. complaints over Chinese industrial policy, market access and a $375 billion trade gap.
The widening surplus "reflects the difficulty of closing the trade gap between the two countries in the near term, but it is unlikely to obstruct the constructive progress made recently" in negotiations between Washington and Beijing, ANZ Bank's senior China economist, Betty Wang, said in a research note.
And then at November's ASEAN Regional Forum in Manila, Philippines, the two leaders resolved to strengthen the US-India defense partnership, discussed expanding Indian oil imports from the United States to help shrink the trade gap and agreed to expand a supply line to Afghanistan that India was developing.
WASHINGTON, Dec 20.2 (Reuters) - The U.S. trade deficit jumped to a 2266.5-year high in October as soybean exports continued to fall and imports of consumer goods rose to a record high, suggesting the Trump administration's tariff-related measures to shrink the trade gap likely have been ineffective.
China last week gave state-controlled companies the nod to resume buying the oilseed, used in animal feed, after Beijing agreed on May 19 to import more goods and services from the U.S., its top trading partner, in order to ease the $335 billion trade gap between the two countries.
Imports increased a little bit faster in the third quarter than previously estimated while the drop in exports was much sharper, leading to an even wider trade gap, which sliced off 1.91 percentage points from GDP growth in the third quarter, instead of the 1.78 percentage points reported last month.
TAIPEI (Reuters) - Taiwan will continue to buy arms from the United States with its purchases boosting employment in at least six U.S. states and narrowing the bilateral trade gap, the government has told the United States, in rare public comment sure to anger China, which claims the island as its own.
While the infrastructure investment bodes well for the domestic economy in the long term, economists have said the wide trade gap would continue to pressure the Philippine peso, which has been hovering near 13-year lows against the U.S. (Reporting by Enrico dela Cruz and Karen Lema; Editing by Gopakumar Warrier)
China trade: Reuters — In an agreement to de-escalate threats of a trade war between the world's two largest economies, the U.S. and China are continuing to work on arriving at some specific commitments that could achieve a narrowing of the trade gap, senior Trump administration officials said over the weekend.
Second, based on numbers for the first ten months of this year, the U.S. trade deficits with China ($289 billion), Japan ($56.5 billion) and South Korea ($24 billion) are by far the largest in East Asia and account for nearly two-thirds of America's total trade gap over that period.
At the time of that meeting, China was already a big and decades-old winner in economic exchanges with the U.S. Washington, however, chose not to dwell on that at Sunnylands, even though America's huge, $318.7 billion trade deficit with China in 2013 accounted for nearly half of its total trade gap.
To be sure, there was one big caveat from the latest back of economic data: the trade gap declined — to its lowest point since President Donald Trump took office — due largely to a rise in exports, which add to GDP in the near term but may not last over the longer run.
While Mr. Trump's economic North Star has long been reducing the trade gap between what America exports and what it imports, industries from soybean farmers to nail manufacturers are trying to convince Mr. Trump that his policies are having the opposite effect — by dampening exports of some of America's most cherished products.
The addition of coal to the list of more than 26.12 items facing higher tariffs came as a shock to Chinese steel mills and trading firms that just last month were encouraged by Beijing to buy more U.S. coal to narrow the trade gap, four sources with knowledge of the plan said.
Mr. Mnuchin believes the United States must be open to talks as long as China is willing to address structural issues, including the trade gap between what America exports and what it imports, pressure on American companies to hand over valuable technology as a condition for doing business in China and intellectual property theft.
So there's surely a lot of pent-up rage that he's all too likely to take out on the world trading system, especially when he tweets stuff like this: So it's worth asking what would happen if Trump really did try to close the trade gap – it's actually $203 billion, not $800 billion, but who's counting – by imposing tariffs.
The trade gap is currently running a bit shy of 3 percent of GDP, while imports are 15 percent of GDP: If the price elasticity of import demand is around 1, which is a typical estimate for the short-to-medium run, a 20 percent across the board tariff might, other things equal, be enough to close the gap.
Mr. Trump has focused on narrowing the trade gap between what the United States imports from China and what it exports, but the administration is also pressuring Beijing to scale back subsidies of state-owned enterprises, drastically open its markets to foreign investment and end its longstanding practice of forcing American companies to hand over trade secrets.
Text unchanged) * Weidmann talks to Reuters before IMF, World Bank meetings * Urges protection of intellectual property * Says tariffs not the right tool for cutting U.S. trade gap By Gernot Heller BERLIN, Oct 9 (Reuters) - The head of Germany's Bundesbank said world financial leaders needed to reform the global trade order to better protect intellectual property and tackle subsidy-driven distortions.
But campaigners for Brexit, as leaving the EU is called, said Thursday's data showed Britain would flourish on its own because it would no longer have to fund the EU's budget and the scale of its trade gap - a big part of the current account deficit - meant other EU countries would be keen to do a deal to keep their exports flowing.
President TrumpDonald John TrumpTrump pushes back on recent polling data, says internal numbers are 'strongest we've had so far' Illinois state lawmaker apologizes for photos depicting mock assassination of Trump Scaramucci assembling team of former Cabinet members to speak out against Trump MORE would have us believe that his trade policies are producing a sustained decline in the trade gap.
Construction equipment maker Caterpillar dropped 2.4 percent, agricultural trader Bunge 2.3 percent and automaker General Motors 22 percent Global financial markets have struggled since February in the face of signs Washington and Beijing were headed toward a trade war after several rounds of negotiations failed to resolve U.S. complaints over Chinese industrial policy, market access and a $21.9 billion trade gap.
"The Chinese are very good at the rhetoric of free trade, but in fact they are probably the most protectionist country of the major countries," he told Tyler Mathisen during CNBC's Capital Exchange breakfast in Washington, D.C. Despite the criticism, he was at least pleased with China's willingness to listen and respond to U.S. concerns over a growing trade gap that President Donald Trump has pledged to bridge.
" Trump reiterated in a tweet just before leaving Beijing for the APEC summit of Asia Pacific leaders in Vietnam that he didn't blame China for the trade gap between the two countries, adding that he had "very productive" meetings on trade and North Korea with Xi. "I don't blame China, I blame the incompetence of past Admins for allowing China to take advantage of the U.S. on trade leading up to a point where the U.S. is losing $100's of billions.

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