New Trade Deficit Tracker

By Public Citizen’s Global Trade Watch

Public Citizen’s Global Trade Watch launches new Trade Deficit Tracker. Contrary to candidate Donald Trump’s pledge to speedily reduce the U.S. trade deficit, in Trump’s first year in office the goods trade deficit is larger than any time since 2008 and up 5 percent overall even in inflation-controlled terms from last year, with a significant jump in the China trade deficit and a 8 percent increase in the North American Free Trade Agreement deficit. Trump has not exercised his available executive authority to fulfill campaign pledges to limit imports, including those from firms that outsource jobs; label China a currency manipulator; revoke trade agreement waivers on “Buy America” procurement policies that outsource U.S. tax dollars to purchase imports for government use; or limit government contracts to firms that outsource jobs.

The overall 2017 U.S. goods trade deficit in inflation-controlled terms was $796 billion in 2017, up 5.4 percent or $40.9 billion from 2016, which was led by a U.S.-China goods deficit of $375 billion in 2017, up 5.5 percent and $19.5 billion from 2016. The 2017 U.S-NAFTA goods trade deficit was up 7.8 percent or $13.8 billion from 2016.

To document the significant increase in U.S. trade deficits under the Trump administration, Public Citizen’s Global Trade Watch has launched a new tracker. The tracker visualizes and tracks significant developments related to U.S. trade deficits with NAFTA partners (Canada and Mexico), and China respectively. Click here or on the image below to visit the tracker.

Posted In: Allied Approaches

Union Matters

Even Super Good Times Sometimes Stop Rolling

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

India’s self-styled “King of the Good Times,” the Kingfisher beer and airline baron Vijay Mallya, seems to be in store for lots of not-so-good times. This past September, a local court ordered the sale of the super yacht Mallya had abandoned in Malta — complete with 40 crewmembers — after his arrest in London on fraud and money-laundering charges. Earlier this month, another court ruling awarded the abandoned crew almost $1 million in back pay. Mallya is now fighting extradition to India. The cells in India’s Mumbai Central Prison, he’s complained to British authorities, lack natural light. The 62-year-old is also tweeting regularly that he’s not getting “fair treatment” from politicians and the media. Mallya’s yacht, meanwhile, has begun a new life as a charter boat renting for $850,000 per week.

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