Record Breaking Details
- The November goods and services deficit ($68.1 billion) was the highest since August 2006 ($68.3 billion), and second highest only by a hair.
- The November goods deficit was the highest on record.
- November imports of consumer goods ($61.2 billion) were also the highest on record.
- November imports from China ($44.9 billion) were the highest since December 2018 ($45.9 billion).
- The net plus balance in services has been shrinking since a record high of $26.59 in March of 2018.
Details as noted on the chart and from Census Department Trade Data.
US consumers keep buying as exports shrink.
Trump's Unwinnable Trade War: Gold Explains Why
Trump did not win the global trade war he started. Indeed, it is not even possible for tariffs to fix the problem.
For discussion, please see Trump's Unwinnable Trade War: Gold Explains Why