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Trump promised to shrink the trade deficit. Instead, it exploded.


The Commerce Department
Trump
the Center for Strategic and International Studies
the Tuck School of Business
Dartmouth College
Trump’s
Federal Reserve
the Coalition for a Prosperous America.[China
Reinsch
the Conservative Political Action Conference
Congress
Treasury
Columbia University
the Federal Reserve Bank of New York
Princeton University’s
the University of California at Los Angeles
Yale University
the University of California at Berkeley


Trump
Xi Jinping
Barack Obama.[Trump’s
William Reinsch
Matthew J. Slaughter
Michael Stumo
David Weinstein
Mary Amiti
Stephen J. Redding


Chinese
Americans
Japanese
North American
South Korean
Republican


Africa
Asia
Europe
North America


America First
Rockefeller Center


the United States
China
U.S.
Beijing
Tourists.]The United States
New York
California
Pebble Beach
Pennsylvania
South Korea
Canada
Mexico
Amiti
Redding


the Great Recession

Positivity     37.00%   
   Negativity   63.00%
The New York Times
SOURCE: https://www.washingtonpost.com/business/economy/trump-promised-to-shrink-the-trade-deficit-instead-it-exploded/2019/03/05/35d3b1e0-3f8f-11e9-a0d3-1210e58a94cf_story.html
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Summary

Over the past year, even as he imposed tariffs on foreign-made solar panels, washing machines, steel, aluminum and assorted goods from China, imports roared ahead of exports.The president thus begins his reelection drive with a core campaign promise unfulfilled — and with a recent flurry of economic research showing that his embrace of tariffs is damaging the U.S. economy.Economists say the trade deficit is swelling because of broad economic forces, including a chronic shortfall in national savings that was exacerbated by last year’s $1.5 trillion corporate and personal income tax cut. The Commerce Department on Monday began investigating whether imports of titanium sponges, used in chemical plants and military hardware, represent a national security threat.The president has used similar studies to impose tariffs on steel and aluminum and has threatened to apply them to imported cars and car parts.Trump persists with the import levies even as some supporters also push for him to act on other forces fueling the trade deficit, including a robust dollar.The dollar is now valued 19 percent above its 10-year average against the currencies of major U.S. trading partners, according to Federal Reserve data.The high dollar acts as a price increase for American exporters, making it harder to compete with foreign rivals.“A competitive dollar is the most important tool we have to spur economic growth and job creation in the U.S. economy,” said Michael Stumo, chief executive of the Coalition for a Prosperous America.[China has a big weapon that it hasn’t used in the trade war — yet.

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