Recent trade data suggest America’s deficit is narrowing, but experts are skeptical the economy is meaningfully benefiting.
AMERICA’S TRADE DEFICIT is expected to drop in 2019 to its lowest level since President Donald Trump entered the White House – an apparent sign that his liberal use of tariffs and trade threats is fulfilling a key campaign promise of chipping away at the U.S. trade shortfall with the rest of the world.
But America’s trade standing may not be nearly as healthy as it looks.
Analysts remain unconvinced that the trade barriers have meaningfully improved the U.S. economy or supported workers and businesses. Exports were still down through the first 11 months of 2019, and new research suggests American importers and consumers have borne the brunt of the tariffs’ economic impact. Continue reading.