Trade Deficit With Other Countries Narrowed In March, According To The Commerce Dept. - FbiCables Network | The News that Shapes World Opinion

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Friday, May 04, 2018

Trade Deficit With Other Countries Narrowed In March, According To The Commerce Dept.

As President Trump pushes efforts to negotiate more balanced trade deals, the United States trade deficit continues to narrow with other countries.
On Thursday, the Commerce Department said the trade deficit fell to $49 billion in March — down almost $10 billion from the month before.
This appears to be — in part — due to U.S. exports increasing to a record high.
The new data comes as a U.S. trade delegation is in China to work on a new agreement with Beijing, and as the U.S., Canada and Mexico work on a modernized NAFTA deal.
US Treasury Secretary Steven Mnuchin, center, waves to reporters as he arrives to a hotel after meeting with Chinese officials in Beijing, Thursday, May 3, 2018. U.S. delegation led by Mnuchin arrived in Beijing on Thursday for talks with Chinese officials on defusing tensions that are propelling the world’s two largest economies toward a trade war. (AP Photo/Andy Wong)
Vice President Mike Pence recently said a new NAFTA deal could come in the very near future.
“There are still issues that need to be resolved, but we feel confident that we could come to an agreement in the next coming weeks,” stated Pence.
Canada and Mexico have also expressed a willingness to rework NAFTA and have indicated talks are progressing.

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