Categorized | China, Trade

China Goods Trade Deficit was 41.8% of Total Goods Deficit in July

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We received the following in an email from Bob Hall. He asks, 

“In this economy? People what the hell? Have we lost our survival instinct — our will to live?”

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES, July 2012 

On the first page of “U.S. International Trade in Goods and Services, July 2012″ –www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf the U.S. Census Bureau reports that our July goods deficit was $57.3 billion, seasonally adjusted.

  • Not seasonally adjusted, our July goods deficit (census basis) was $70.2 billion.
  • So, our total goods deficit was worse — as it turns out, the worst since April 2008 — but China’s portion of it was less.
  • In July, in actuality, our goods deficit with China was 41.8% of our total goods deficit.  This still includes oil.
  • We still racked up a $29.4 billion (census basis) goods deficit with China –
  • www.census.gov/foreign-trade/balance/c5700.html
  • – and this is still an all-time, history-of-the-planet record.

2 Responses to “China Goods Trade Deficit was 41.8% of Total Goods Deficit in July”

  1. Bob Hall says:

    Ellen, thanks for posting. My original e-mail concluded with a couple of lines from “Dollar to the Giant”:

    “Ulterior plans in the giant’s hands, steel cages hit our shores in a flood. / And all we received for a moment of greed was paid for with our children’s blood.”

    TradeReform posted the complete lyrics back in July 2012:

    http://www.tradereform.org/2010/07/dollar-to-the-giant

    Unfortunately, the song is even truer today.

  2. Bob Hall says:

    Ooops — meant to say July 2010.

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