Goods Trade Deficit Soars 12.8% in December: Year-Over-Year Exports Down 0.3%
The Census Department Advance Report on International Trade for December was released today after a government shutdown delay.
Advance International Trade in Goods
- The international trade deficit was $79.5 billion in December, up $9.0 billion from $70.5 billion in November.
- Exports of goods for December were $135.7 billion, $4.0 billion less than November exports.
- Imports of goods for December were $215.2 billion, $5.0 billion more than November imports.
- Agricultural exports fell 1.8%.
- Year-over-year exports are down 0.3%.
- Year-over-year imports are up 3.2%.
Trump Desperate for a Deal
As a tribute to Trump's tariff policies and China's retaliations, year-over-year agricultural exports are down a whopping 5.5%.
Trump is desperate for a deal with China. So expect one: Hooray! "Substantial" Progress With China (Just Don't Ask Where).
And don't expect a huge victory no matter what Trump proclaims.
Mike "Mish" Shedlock