US trade deficit with China at 74 billion Dollar

WASHINGTON: WEDNESDAY, MAY 5, 2021 – Despite a slowdown in the US economy over the past few months, the trade deficit reached. 74.4 billion in March. US officials say trade deficits have risen as imports of foreign goods have risen.

The trade deficit widened to 5.6 percent in March from $70.5 billion in February, the Commerce Department said. Imports rose 6.3 percent to $274.5 billion, while exports improved 6.6 percent to $200 billion. Imports outstripped exports in dollar terms.

The trade deficit with China, considered politically sensitive, has not improved, but the trade deficit with China has increased by 11.6 percent to. $27.7 billion. Naturally, the US has the highest trade deficit with China.

In the first three months of this year, January, February and March, the US trade deficit totaled $213 billion, up nearly 64 percent from the same period last year. Corona Virus epidemics led to severe restrictions and lockdowns in many parts of the United States during that period.

The United States had a trade deficit of $681 billion in 2020. This is the highest number since 2008. -AP