U.S. Trade Deficit With China Rises

America's goods trade deficit with China set a new record in 2013 for the fourth straight year, climbing to $318 billion.

(TRNS) — The U.S. trade deficit with China has risen by 40 percent since 2009, according to new figures released today by the Commerce Department.

While the U.S. sold about $13 billion in goods to China this past December, its imports from China totaled over $37 billion. Thus, an overall monthly deficit of around $24 billion. For the year, the trade deficit was $318.4 billion.

By comparison, the deficit with China was just below $227 billion back in 2009.

Overall in December, the U.S. sported a trade deficit of nearly $39 billion, according to Commerce. Trade with the European Union accounted for a deficit of over $11 billion.

In terms of exporting and importing goods and services, the U.S. ran a full year trade deficit of close to $472 billion, down from $557 billion in 2011 and $535 billion in 2012.

The report comes amidst intense efforts by the Obama administration to boost American exports to Asia by quickly approving new trade deals with Brunei, Singapore and New Zealand.

DC Bureau Footer

Tags: , , , ,

Geoff Holtzman
Geoff Holtzman is Talk Radio News Service's Deputy Bureau Chief. As one of TRNS's primary correspondents, he helps cover the White House and Capitol Hill. Geoff also covered the 2012 presidential campaign, following the candidates to Iowa, New Hampshire, South Carolina, North Carolina, Florida and elsewhere. In the process, he learned that not all Motel 6's are created equal. Follow Geoff on Twitter @Geoff_Holtzman.

No comments yet.

Leave a Reply

7.8 Earthquake Hits Capital City Of Nepal, Death Toll Exceeds 1,500

With a population of 700,000, the earthquake has left the capital city of Kathmandu in rubbles with many still feared trapped and missing

LISTEN: The Weekend Ahead – April 25-27, 2015

The Day Ahead Logo

White House correspondents enjoy their yearly gala on Saturday, the world’s least happy nation votes for its president and a major EU-Ukraine summit begins Monday.

Holder Bids Farewell

“This is something that has meant the world to me, it has helped define me as an individual and as a lawyer, as a man,” Holder said in his farewell speech.

LISTEN: The World in 2:00 – April 24, 2015

The World in 2:00 continents logo

The White House explains its drone policy after the death of two hostages in Pakistan and the latest World Happiness Report reveals the stark impact of the Great Recession.

Statue Of Liberty Evacuated

Statue of Liberty

The monument was evacuated after a reported suspicious package was discovered on the grounds.

Mitt Romney On Clinton Foundation Donations: ‘It looks like bribery’

Presidential candidate Hillary Clinton is facing criticism over money donated to her family’s foundation while serving as Secretary of State in trade for approved uranium sales