Feb
12

Transposed Trade

In 2019, the US trade deficit shrank for the first time since 2013, from $628 billion to $619 billion; just 1.7%. Exports fell 0.1%, imports fell 0.4%. Imports from China fell 17.6%, but it was made up by a huge rise in imports from Vietnam and meaningfully higher deficits with six other nations. Our trade deficit in petroleum, the lowest ever and almost zero; with other stuff, the highest ever.

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