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Chinese imports widen U.S. trade gap

By Howard Schneider
The U.S. trade deficit surged in August as a jump in imports from China overwhelmed a meager rise in American exports. The deficit with China rose from $25.9 billion to just above $28 billlion.

The new data are likely to fuel the trade tensions that have been rising between the two countries and stoke pressure for China to revise some of its economic policies -- chiefly the close management of its currency.

Of particular note: U.S. exports barely increased, rising just $300 million from July to $153.5 billion. The Obama administration is hoping to double U.S. exports over the next five years, but the last few months have shown only sluggish growth. U.S. sales abroad increased just more than six percent for the first eight months of the year.

The country imported $196.1 billion worth of goods and services in August. The resulting $46 billion trade deficit represented a roughly 10 percent increase over July.


By Howard Schneider  | October 14, 2010; 11:02 AM ET
Categories:  China, International Economics, Trade, U.S. Economy  
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Comments

When a Nation, which has enriched herself by a reciprocal Commerce in Manufactures with other Nations, finds the Balance of Trade turn against her, it is her Interest to put a Stop to it altogether

First, then, it must be inquired, if, in the branch in which she is undersold, her rivals enjoy a natural advantage above her, which no superior industry, frugality, or address on her side, can counterbalance?

First, To renounce this branch of commerce entirely, and to take the commodities wanted from foreigners, as they can furnish them cheaper.

Secondly, To prohibit the importation of such commodities altogether.

Thirdly, To impose a duty upon importation, in order to raise the price of them so high as to make them dearer than the same kind of commodity produced at home.

Posted by: Anonymous | October 14, 2010 12:28 PM | Report abuse

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