Jan 11, 2019 - Nationwide, U.S. consumers spend almost as much on foreign-made components
of U.S. goods as on
finished goods made elsewhere.
International partners remain key to the supply chains of many U.S. companies. About 23.3 percent of spending on durable goods such as chaise lounges, tablets and
pickup trucks goes abroad.
15 percent of U.S. imports come from China. Moreover, all of the basic
types of manufactured consumer goods that China exports to the United States (clothing,
textiles, footwear, toys, small appliances, etc.) can be imported from other
countries or could be produced domestically.
China was our largest goods trading partner with $659.8
billion in total (two way) goods trade during 2018. Goods exports totaled
$120.3 billion; goods imports totaled
$539.5 billion. The U.S. goods
trade deficit with China was
$419.2 billion in 2018.
Negotiations have been at an impasse since May
after the U.S. said
the Chinese reneged on
provisions of a tentative deal. So far this year, the U.S. merchandise deficit with China has narrowed to a
seasonally adjusted $179.8 billion, compared with $200.4 billion in the same
six months of 2018. This is a $20.6 billion reduction in the US Trade Deficit.
Norb
Leahy, Dunwoody GA Tea Party Leader
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