Deficit: Sweeps America’s foreign trade, disappoint Trump

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The foreign trade deficit of the United States deteriorated dramatically in the third quarter of this year, which disappointed President Donald Trump.

Trump has been particularly focused on combating the US trade deficit, which has pushed him to wage wars on his country’s major trading partners.

With the tariffs weapon, Trump has struck enemies, friends, and neighbors, imposing them on China, the European Union, Canada, Mexico, and others.

Disappointing results

According to the US Commerce Department, the US current account deficit jumped in the third quarter of the year due to a record recovery in spending.

The US Commerce Department said on Friday that increased spending had pushed imports up, outpacing recovery in exports.

She explained that the deficit of the current account balance, which measures the flow of goods, services, and investments to and from the country, increased 10.6% to 178.5 billion dollars in the last quarter.

The second quarter’s data was revised to show a deficit of $ 161.4 billion, instead of $ 170.5 billion in the previous reading.

Economists polled by Reuters had expected the current account deficit to widen to $ 189 billion in the quarter between July and September.

Surplus in Europe

And unlike the United States, the European Union, which encourages free trade, has run a surplus.

Data from the European Central Bank showed today that the revised current account surplus of the 19 eurozone countries widened to 26.6 billion euros in October from 25.2 billion in September thanks to the rise in trade contribution in goods and services.

In the twelve months to September, the bloc’s current account surplus declined to 2 percent of GDP from 2.3 percent in the previous year, mostly due to a lower surplus in net exports of services and a lower flow of primary income, which includes profits from foreign investment…

The foreign trade deficit of the United States deteriorated dramatically in the third quarter of this year, which disappointed President Donald Trump.

Trump has been particularly focused on combating the US trade deficit, which has pushed him to wage wars on his country’s major trading partners.

With the tariffs weapon, Trump has struck enemies, friends, and neighbors, imposing them on China, the European Union, Canada, Mexico, and others.

Disappointing results

According to the US Commerce Department, the US current account deficit jumped in the third quarter of the year due to a record recovery in spending.

The US Commerce Department said on Friday that increased spending had pushed imports up, outpacing recovery in exports.

She explained that the deficit of the current account balance, which measures the flow of goods, services, and investments to and from the country, increased 10.6% to 178.5 billion dollars in the last quarter.

The second quarter’s data was revised to show a deficit of $ 161.4 billion, instead of $ 170.5 billion in the previous reading.

Economists polled by Reuters had expected the current account deficit to widen to $ 189 billion in the quarter between July and September.

Surplus in Europe

And unlike the United States, the European Union, which encourages free trade, has run a surplus.

Data from the European Central Bank showed today that the revised current account surplus of the 19 eurozone countries widened to 26.6 billion euros in October from 25.2 billion in September thanks to the rise in trade contribution in goods and services.

In the twelve months to September, the bloc’s current account surplus declined to 2 percent of GDP from 2.3 percent in the previous year, mostly due to a lower surplus in net exports of services and a lower flow of primary income, which includes profits from foreign investment…

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