The latest monthly U.S. trade figures were released this morning by the U.S. Department of Commerce. The U.S. nearly matched the record monthly trade deficit with China it reached in July, this time falling just shy of the $30 billion mark.
- In August, the overall U.S. international goods and services deficit rose to $38.8 billion, up from $38.6 billion in July, revised.
- The monthly U.S. goods deficit with China clocked $29.9 billion in August, a slight decrease from the record $30.1 billion recorded in July.
- The U.S. goods deficit with Japan dropped to $6.4 billion in August, down from $6.8 billion in July.
Said Alliance for American Manufacturing (AAM) President Scott Paul:
“Our trade deficit with China was $29.9 billion in August, the latest indication that 2013 will be a record-breaker, but not in a good way.”
In a recent op-ed, Paul urged Members of Congress to support newly reintroduced legislation to address currency manipulation by America’s trading partners.
The Alliance for American Manufacturing is a non-profit, non-partisan partnership formed in 2007 by some of America’s leading manufacturers and the United Steelworkers to explore common solutions to challenging public policy topics such as job creation, infrastructure investment, international trade, and global competitiveness. For more information, please visitwww.americanmanufacturing.org.
AAM is releasing its blueprint for an American manufacturing resurgence, ReMaking America.