The US trade deficit rose to its highest level since 2008 in December as strong domestic demand led to surging imports. The goods deficit with China rose 8.1 percent to hit a record $375.2 billion in 2017, while the trade gap with Mexico rose to $71.1 billion.
Trump has often hit Mexico and China the hardest on trade, and his administration is now in the process of renegotiating the North American Free Trade Agreement (NAFTA).
The U.S. trade deficit widened more than expected in December, hitting its highest level since 2008 as robust domestic demand pushed imports to a record high.
Data released in Washington showed the US trade deficit hit a nine-year high in December.
Official data showed the U.S. deficit in goods and services jumped to $53.1bn in December, an increase of $2.7bn from November, and markedly higher than economists´ consensus forecasts for a deficit of $52bn.
For the full year, total US exports rose 5.5 percent to $2.33 trillion, while imports climbed 6.7 percent to a record $2.9 trillion. "The first-year Trump jump in the US trade deficit adds urgency to the administration actually securing a NAFTA replacement deal that ends NAFTA's job outsourcing incentives and implementing a new China trade policy". While improving overseas growth and a weaker dollar bode well for exports, Trump's efforts to seek more favorable terms with US trading partners remain a work in progress, and his tax-cut legislation may cause the deficit to widen further.
The U.S. imported numerous foreign-made goods in 2017, many of which were produced in China.
At the same time, the latest trade figures also reflect the rising value of commodity imports due to higher commodity prices. "I am still optimistic that trade in 2018 will be positive, given the strength of global growth", said Ross Prusakowski, a senior economist at Export Development Canada.
Mnuchin said despite the recent declines the administration can take credit for double-digit increases since Trump's election in 2016, given its focus on policies to improve the economy's long-term performance.
Imports rose far faster than exports, adding 6.7 percent to reach $2.9 trillion, the highest level ever.
The Redskins seem set on making it hard for Cousins, after kicking the can down the road with franchise tags in 2016 and 2017. Regarding the latter, there may be no free agent talked about more and pondered over than Redskins quarterback Kirk Cousins .
He took the halftime stage for the first time along side his band * NSYNC in 2001 and later with Jackson three years later. That whole virtual reality thing.it really is demonic. "I don't know that a lot of people know that", he said .
Davies' quick pass was flicked on by Evans for Halfpenny to scamper over unopposed and he converted his own score. Scotland hand centre Chris Harris a first start, with Ali Price preferred to Greig Laidlaw at scrum-half.
Shortly after, Youngs went down with what looked like a nasty knee injury after his left leg appeared to get trapped in the ruck. England made the flawless start to the defence of their Six Nations crown, scoring two early tries through Anthony Watson .
We feel like that is going to be the real discussion point as we endure the long wait for the next two and a half months or so. The new trailer for " Westworld " season 2 will be featured in this Sunday's Super Bowl , Entertainment Weekly confirmed.
Meanwhile, speaking after the game, Zidane did his best to stay positive despite the pressure continuing to build. Iago Aspas pulled one back for Celta in the 90th minute but Alaves held on to secure three important points.
Israel has voiced concern that the law would ban true statements about the role that some Poles played in Nazi crimes. On February 5, Israeli Education Minister Naftali Bennett said he would travel to Poland to discuss the bill.
Supply of this model is scarce in China, where consumers must pay 1,000 yuan or more on top of its 8,999 yuan list price. As for a shipping date, the phone launches February 18, so you won't have to wait too long to receive your device.
On this occasion, he was relieved to avoid more Paris pain after ruining Jacques Brunel's first game as Les Bleus head coach. I don't think there is any better place to be than in between Johnny Sexton and Robbie Henshaw.
That should put assistant quarterbacks coach Jerry Schuplinski in the best possible position for a promotion. Likely one of the main reasons why McDaniels took the job with the Colts is because of Andrew Luck .
Show me what he did to you with these", Kimmel says, as Kimmel and Clifford brandish boy and girl puppets, respectively. She refused to confirm that she was paid to keep her mouth shut about the alleged affair before the 2016 election.
Stocks, rupee weaken, bonds gain in line with global markets
The benchmark BSE Sensex ended down 561.22 points or 1.61 percent at 34,195.94, extending losses for a sixth consecutive session. We aren't living in an island so there will be ripple effect of what is happening in world on Indian stock markets".
Pats cornerback Butler benched for Super Bowl
At the time, Butler was a little-known undrafted rookie. "He wants to be out there, so I'm not surprised he was emotional". While Lattimore has played exceptionally well in his rookie season, adding Butler would only make that defense better.
Congress Shocks Ruling BJP in Rajasthan
The BJP candidate came second with 38,711 votes, while the CPI (M) candidate was slightly behind at third spot with 35,497 votes. Will the results trigger a rethink on simultaneous polls? He insisted that the verdict was a rejection of the BJP.
Mets, Todd Frazier agree to two-year deal
The Mets made their long-awaited move to solidify their infield, and they did so with a familiar face in NY . Frazier agreed to a two-year, $17 million deal with the Mets on Monday night, according to multiple reports.
Mahrez To Join Man City Before Window Closes?
Arsenal are reportedly set to join the battle to sign Leicester City's wantaway winger Riyad Mahrez in the summer. I think it's important that we stay united about this situation.
Fallen Kingdom's new trailer looks downright terrifying
2 for Jeep featured both the 2018 Jeep Wrangler, a terrifying T-Rex and Jeff Goldblum from Jurassic World: Fallen Kingdom . Jeff Goldblum and Jeep paid homage to the original Jurassic Park film in a Super Bowl ad Sunday.