Advance International Trade in Goods
- The international trade deficit was $74.5 billion in May, up $3.6 billion from $70.9 billion in April.
- Exports of goods for May were $140.2 billion, $4.1 billion more than April exports.
- Imports of goods for May were $214.7 billion, $7.8 billion more than April imports.
No Tweets yet from Trump.
This is a small negative for US GDP estimates.
Mike “Mish” Shedlock
World is in a net recession due to credit default and tariffs. USA is still growing. Trump tax cuts and the fed spiked the punch bow. Retail sales are largely on credit but people with new jobs do that.
OMG, Trump seems to really believe the US is collecting its tariffs from China. That is his grandiose scheme if a trade deal can’t be reached. Meanwhile, just keep printing more money to make up for the tax cuts.