President Trump is a phenom. Democrats are really going to go nuts. The better things get for Americans, the worst they get.
What happened: Exports rose 0.7% to $208.6 billion in November. The U.S. exported more aircraft engines, autos and equipment for oil drilling and exploration.
Imports slipped 1% to $251.7 billion. The U.S. imported fewer computers, cell phones, drugs and aircraft, offsetting a big increase in auto imports.
US trade deficit plunges to more than 3-year low
The trade deficit is on track for first annual decline since 2013
By FOX News, January 7, 2020
White House trade adviser Peter Navarro on CEOs concerned about recession risks, trade in 2020
The U.S. trade deficit plunged to a more than three-year low in November, suggesting the Trump administration’s trade war with China was producing results.
The deficit fell 8.2 percent to $43.1 billion, the smallest since October 2016, the Commerce Department said Tuesday. It was down 0.7 percent through the first 11 months of the year and is on track for its first annual decline since 2013.
Exports to China spiked 13.7 percent as imports fell by 9.2 percent, pushing the U.S.’ trade deficit with China down by 15.7 percent to $26.4 billion. The trade deficit with the European Union narrowed by 20.2 percent $13.1 billion. President Trump has long referred to the trade balance as a scorecard of sorts for how the trade war is progressing.
The U.S. and China reached a partial trade deal on Dec. 12 after a more than 21-month-long trade battle.
A Chinese delegation is expected to arrive in Washington on Jan. 13 with a signing scheduled to take place two days later at the White House. Trump has said a comprehensive deal could be done in two or three parts.
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