U.S. Trade Deficit
Reaches All Time High
Globalists and transnationalists across the earth surely revelled to the news that the U.S. trade deficit hit a whopping US$19.7 billion in the month of March. U.S. imports rose US$1.27 billion between February and March because of strong consumer demand. Exports over the same period also rose 0.72 billion, reaching US$77.52 billion.
"The increase in March imports reflected higher crude oil prices and an increase in the volume of steel products as well as higher imports of autos and auto parts, the [U.S. Department of Commerce] said. At the same time the United States exported more telecommunications equipment and other industrial goods in the month. U.S. exports of civilian aircraft were up slightly in March..." (U.S. March Trade Deficit Hits Record, Reuters.
According to the Reuters report, in March, the U.S. trade deficit with Japan rose to US$6.49 billion; with China it fell from $4.62 billion in February to $4.14 billion; and with Western Europe, it rose from $2.25 billion in February to $3.16 billion. Thanks to NAFTA (North American Free Trade Agreement), the deficit with Mexico rose from $2.25 billion to $2.41 billion.
Author's Comment: What folks need to realize is that there is only so many U.S. dollars in print. As more of these dollars make their way out of the country, others outside the U.S. get richer and U.S. citizens naturally get poorer. No one need explain the implications of a continuing trade deficit of this magnatude. --Al Colombo
