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Richmans' Trade and Taxes Blog
Trade Deficit up again in March
Howard Richman, 5/12/2010
This morning, the BEA issued its preliminary estimate of our March 2010 trade statistics. Our trade deficit climbed again, led by a growing trade deficit with Europe. Overall, our trade deficit rose from $39.4 billion in February to $40.4 billion in March. Meanwhile our trade deficit with the European Union rose from $5.3 billion in February to $7.1 billion in April, probably as a result of the dollar rising v. the euro.
We had a good month of trade with China, which is, right now, stocking up on commodities. Our trade deficit with China only rose slightly, from $16.5 billion in February to $16.9 billion in March with China's imports from the United States rising from $6.9 billion to $7.4 billion.
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