The US
trade deficit is shrinking. China imports to the US are down $200 billion from
2018.
Nominal GDP Rankings by Country
According to the
International Monetary Fund, these are the highest ranking countries in the
world in nominal GDP in 2018:
United States (GDP: 20.49 trillion)
China (GDP: 13.4 trillion)
Japan: (GDP: 4.97 trillion)
Germany: (GDP: 4.00 trillion)
United Kingdom: (GDP: 2.83 trillion)
France: (GDP: 2.78 trillion)
India: (GDP: 2.72 trillion)
Italy: (GDP: 2.07 trillion)
Brazil: (GDP: 1.87 trillion)
Canada: (GDP: 1.71 trillion)
US Imports 2018
China
$539.5 billion
Mexico
$346.0 billion
Canada
$318.5 billion
Japan
$142.6 billion
Germany
125.9 billion
US Imports 2019
US
imports from China from January through August 2019 were $301.7 billion.
Exports from the US to China were $70.1 billion. The US Trade Deficit with
China was $231.5 billion.
US Trade Deficit with China 2018
The US
trade deficit with China in 2018 was $419.5 billion. Imports from China were
$539.7 billion. Exports from US to China
were $120.2 billion.
The
average trade deficit with China in 2018 was $35 billion per month. If we add
$35 billion to forecast the deficit for the remaining 4 months of 2019, our
trade deficit with China in 2019 will be $140 billion plus $231.5 billion or
$371.5 billion for a reduction of $48 billion. Continuing the Tariffs are
needed to cut the deficit in half to $200 billion.
Norb
Leahy, Dunwoody GA Tea Party Leader
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