The Trade Deficit Is Up Under Trump
Newly released trade data shows that the U.S. trade deficit has grown during the first year of the Trump administration despite the president's campaign pledges to reduce the deficit in his first year.
The U.S. NAFTA trade deficit with Canada and Mexico increased by 7.8 percent. The U.S. deficit with China increased by 5.5 percent. The 2017 U.S. deficit with China was $375.2 billion, with Mexico was $126.3 billion and with Canada was $64.8 billion compared with $355.7 billion, $119.4 billion, and $58 billion, respectively, in 2016.
The North American Free Trade Agreement (NAFTA) deficit (excluding re-exports) has grown during the first year of the Trump administration after seeing a progressive decline from 2011 to 2016.
The China trade deficit continued its upward trajectory, after a small improvement in 2016.