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Commerce Department: US Trade Deficit Suddenly Widens

August 12, 2011 by  

Commerce Department: US Trade Deficit Suddenly Widens

On Thursday, a report released by the United States Department of Commerce showed that the U.S. trade deficit suddenly widened in June. The report showed that U.S. exports of goods and services decreased by 2.3 percent in June, while U.S. imports decreased by 0.8 percent, causing the trade deficit to increase by 4.4 percent since May — putting the trade deficit at its highest level since October 2008.

“Exports remain a driving force in our economy. Although numbers in June were lower than we’d hoped, exports have grown at a steady pace for the first half of this year, posting 15.8 percent growth over last year,” read a statement from Acting U.S. Commerce Secretary Rebecca Blank.

“We are on pace to meet the President’s National Export Initiative of doubling exports by 2015. While we are at a fragile time in the world economy, the Administration will continue to innovate to help our businesses compete globally, stabilize the economy, strengthen the middle class and accelerate hiring in communities and towns across the nation.”

According to a Bloomberg article, the trade deficit may not be as dire as it sounds. Global demand for American-made goods is expected to remain high, aided, at least in part, by the weaker dollar.

“Sluggish U.S. demand growth has this year has restrained imports,” Mike Englund, chief economist at Action Economics LLC in Boulder, Co., told the news service before the report. “The export trajectory remains respectable.”

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  • http://yahoo skyraider 6

    Why do we borrow to give money to other countries? Can’t they borrow themselves, we are ruining the future for our children.

    • TIME

      Dude,
      You just hit the TRILLION DOLLAR question. Good Post!

  • s c

    Export trajectory. Driving force. On pace. Strengthen the middle class.
    Ye gods, do you people really believe that $@^*?
    America, this administration is absolutely clueless. They expect us to hold our breath, and things will get ‘better.’
    Anyone who believes in this corrupt, sick, criminal, perverted, traitorous administration doesn’t give a damn about making America better or safer. Bend over, geniuses. You’re about to get the reward you deserve for being so STUPID. Get comfy. I’m taking aim and my import/export trajectory is right on target.
    [I refuse to believe that such people have any right to call themselves human or American. Maybe retroactive abortion CAN be a remedy. Home sapiens. What a cosmic JOKE!]

    • Old Henry

      s c:

      Stupid is forever. Ignorance can be fixed.

  • Patriot

    It’s time to slap a 50% tariff on Chinese goods and bring back manufacturing to the U.S.

  • http://yahoo skyraider 6

    Maybe the EPA can fine all those active volcanos and have them stop sprewing all that sulpher into the atmosphere instead of hitting on factories

  • Kilgore Trout

    It’s not just the president who is causing these problems, it is Congress. All the “Free Trade” agreements need to be ended and tariffs placed on imports so that real American jobs can be created. Why should we be subsidizing multi-national corporations who want to move our jobs overseas.

    • TIME

      KT,
      Please explore the NAU the EU the APU, also UN Agenda 21,Cap & Trade, and O care within these you will have most of the puzzle so your questions will be addressed.

      There is a lot going on, so to understand it you have to have the ROOT cause, if you miss the root then it makes no sence.

  • skippy

    “We are on pace to meet the President’s National Export Initiative”…well, hmmmmm…now THAT is loaded. I sure hope they don’t ‘pick up the pace’….that would be disasterous! Maybe the ‘pace’ needs a couple broken legs!! :)
    This is just another clue of where America is headed.

  • ONTIME

    Yep, the GDP is bound to go south if you lay off your workers, and lose your markets to the competition and debt….stupid is as stupid does.

  • I johnathan Cavallo

    The American people should take back control of there employes by implementing term limits (4-6) years. The American people should start with the Chief Justices, ASAP the top attorneys that are destroying the Bill of Rights and Constitution. You know the one they gave an oath to up holed an protect for all Americans. Who voted for them? How is any law legal that they sign? Why are no government employes fired for bad performance? If any other American did what these employes have done to The American economy at there job they would be immediately replaced an prosecuted?
    When in America do laws not apply to everyone equally?

    TERM-LIMITS

  • chuckb

    four years is enough for anyone, allowing longer terms only gives them more opportunity for criminal activities.

    remove all federal agencies except the dept of defense and justice (fbi & cia) eliminate the epa entirely, let the states run their own education and transportation. place all federal employees on social security and make it retroactive for fifteen years.

    this is the revolution we need, no more federal welfare.

  • sandy

    1. when will we wake up and see that we water down education at all grade levels including ass. and bach. levels forcing higher education to become more costly. 2. Litigation in the country dictates that products jump through safety hoops our we blame the government.3. We do give blame greed when we benefit nor do we want to be inconvenienced. We could take a little extra time and buy American made. We Cry about
    Americans being forced to buy health insurance-but will fuss when someone appears at a hospital and get denied treatment because they don’t have any. Guess who foots the bill when the uninsured presents at the hospital or gets the hospital to write off part of the balanace? The average Joe with Health care that’s why health care is so costly we are paying for those that don’t have any health care. So fine You don’t want health insurance don’t ask to to be treated. But what about those of us that want to purchase health insurance and can’t because we had asthma as a child or some other pre-existing?

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