June trade numbers have been tabulated and there has been a nice shift favoring the United States. To be sure, $43.6 billion is still an unimaginable number that speaks volumes on what could happen with better trade policies and manufacturing capabilities in America. It also speaks about recent weakness on the dollar, and the debate over how strong or weak the greenback should be. (I say it’s going to be lower and for now that’s fine.)
There is something of a Trump Effect with these numbers as well. Trade deficit in June declined $1.2 billion with Mexico and Canada respectively.
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I want to see America turning the tide on trade, in a way that it is not disruptive or cost Middle America more when the dust settles. We want those jobs, but any employment gains shouldn’t be negated with higher prices. It’s a delicate balance of trade for sure, but an obvious challenge as well.
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