The US trade deficit increased sharply in May, by 18.7%, reaching $ 71.5 billion due to export reduction, according to figures released by the Ministry of Commerce today. The lack of the world’s largest economy increased by $ 11.3 billion compared to April, as analysts expected, based on a marketwatch study. Following Donald Trump’s return to the White House, the trade balance is intense, but has never been to positive territory. Trump has turned duties (in some areas, such as steel, cars, aluminum, in some countries such as China, Canada, Mexico, or even Catholic duties to all) in central axis of his economic policy. To reduce the losses, US companies have made mass imports to prevent the imposition of duties. Imports were then reduced. Last month this reduction was marginal, at 0.1%, but at the same time declined significantly […]
Source: News Beast
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