Staga--effects of weakening U.S. dollar

[Ripsnort]

Trade Deficit Narrows to $46 Billion in May
Tuesday, July 13, 2004
 
WASHINGTON — America's trade deficit (search) narrowed to $46 billion in May, an improvement brought about as U.S. exports posted their best month on record.

The latest snapshot of trade activity, reported by the Commerce Department (search) on Tuesday, came after the deficit had mushroomed to an all-time monthly high of $48.1 billion in April. The 4.5 percent reduction in the deficit during May represented the largest over-the-month decrease since October 2002. The decline was the first after five straight months of increases.

The trade deficit figure for May was better than some analysts were expecting. They were forecasting the deficit to hold fairly steady. The narrowing of the gap in May resulted from export growth far outpacing imports, which still climbed to a record high.

Exports of U.S. goods and services rose to a record $97.1 billion in May, representing a sizData Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????\Ê\Ê       264898140MltCpy2.10 FILL FILLed Sector; ST500DM002-9YN14 (CC4H) S1D5GMZYData Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????Data Recovery Labs??????????????erils of becoming economic isolationists, Bush says the best way to handle the trade deficits is to get other countries to remove trade barriers and open their markets to U.S. businesses.

But Kerry points to the deficits as evidence that the president's free-trade policies aren't working. Democrats favor having future trade deals include stronger labor and environmental protections and reviewing the impact of existing trade agreements.

In May, U.S. exporters saw demand for a variety of their products increase. Sales of American-made automobiles, engines and parts rose by 1.3 percent, to $7.2 billion, a record high. Industrial supplies, including chemicals and plastic materials, also hit an all-time monthly high of $17.3 billion in May, up from $16.3 billion the month before. Exports of capital goods, such as airplanes and industrial engines, climbed to $28.8 billion, the highest level since March 2001.

On the import side, sales of foreign-made automobiles and parts also hit a record high of $19.4 billion in May, up from nearly $19 billion in April. Imports of foods, feeds and beverages were valued at $5.2 billion in May, also a record.

By country, America's politically sensitive trade deficit with China widened to $12.1 billion in May as imports from China climbed to $15 billion, the second-highest level on record. The record occurred in October 2003, when imports from China totaled $16.5 billion.

The Bush administration has been pressing Beijing to stop linking its currency to the dollar and to let the value of the yuan (search) be set in open markets. (Remember our conversation about China artificially inflating the value of the dollar?)

The U.S. trade deficit with Japan narrowed to $5.5 billion in May, compared with $6.4 billion in April. The deficit with Canada also narrowed to $4.8 billion from $5.6 billion.

America's deficit with oil-producing countries, including Saudi Arabia and Venezuela, widened to a record high of $5.6 billion in May. The average price of imported crude oil, meanwhile, rose to $33.12 a barrel, the highest since July 1982.
 

[Staga]

Bush says the best way to handle the trade deficits is to get other countries to remove trade barriers and open their markets to U.S. businesses.

Dejavu....
Steel tarrifs

America's deficit with oil-producing countries, including Saudi Arabia and Venezuela, widened to a record high of $5.6 billion in May. The average price of imported crude oil, meanwhile, rose to $33.12 a barrel, the highest since July 1982.

Buy more SUVs

[Ripsnort]

[Nilsen]

Im gonna do my part to the trade between Norway and USA by getting some computerparts and hopefully get an AH account up and running this fall It seems we export 3 times more than we import.....can't have any of that.

[Ripsnort]

Originally posted by Nilsen
Im gonna do my part to the trade between Norway and USA by getting some computerparts and hopefully get an AH account up and running this fall It seems we export 3 times more than we import.....can't have any of that.

I'll join you this fall. (Canceled my AH account last week, first time in 9 years I've been without an online account with any flight sim!)

And I'll help out our Nordic countries by shopping at IKEA for some new bedroom furniture for my boys' rooms!

[Nilsen]

Rip....don't help Sweden!! Take a nice tour around the border of the american continent in a SUV or bring your money over here for a visit