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The Census Department Advance Report on International Trade for December was released today after a government shutdown delay.

Advance International Trade in Goods

  • The international trade deficit was $79.5 billion in December, up $9.0 billion from $70.5 billion in November.
  • Exports of goods for December were $135.7 billion, $4.0 billion less than November exports.
  • Imports of goods for December were $215.2 billion, $5.0 billion more than November imports.
  • Agricultural exports fell 1.8%.
  • Year-over-year exports are down 0.3%.
  • Year-over-year imports are up 3.2%.

Trump Desperate for a Deal

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As a tribute to Trump's tariff policies and China's retaliations, year-over-year agricultural exports are down a whopping 5.5%.

Note that US Farm Belt Bankruptcies Climb, Canada the Beneficiary of Trump's Trade Policy.

Trump is desperate for a deal with China. So expect one: Hooray! "Substantial" Progress With China (Just Don't Ask Where).

And don't expect a huge victory no matter what Trump proclaims.

Mike "Mish" Shedlock