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

TRNS’ Shelly Kapoor Collins Named One Of The World’s Top Indian Women

The Economic Times ranked Kapoor Collins among the 20 most influential.

A Story Of Faith And Hope

“If you want to go fast, go alone. If you want to go far, go together.”

TRNS News Notes- 1/26

“Potentially historic blizzard”
Obama: India parade – gum?
Netanyahu: Will go “anywhere I’m invited”
Yemen: Obama – pols at odds
Japanese outrage at death of hostage
GOP to gut filibuster?
WH: Alaska wilderness protection – GOP fumes

Report: Hillary Clinton Finalizing Plans For 2016 Run

Hillary Clinton

Clinton would be the presumptive frontrunner in what is the furthest thing from a crowded field.

“Device” Found On White House Grounds

Press Secretary Josh Earnest said the device posed no threat and the matter is under investigation

Pentagon: ISIL Fortifying Defenses In Iraq, Syria

And roughly 6,000 ISIL fighters out of 20,000 – 30,000 have been killed since Operation Inherent Resolve began in August.