The U.S. trade deficit in manufactures and the Chinese surplus continued to surge in 2012

02/19/2013

Ernest H. Preeg, Ph.D., senior adviser for international trade and finance
U.S. and Chinese exports of manufactures grew at a slower pace in 2012, although the 8% growth in Chinese exports was almost double the 5% U.S. growth. Far more important was the continued surge in the trade imbalances -- the U.S. deficit and the Chinese surplus -- for a third year. The U.S. deficit rose by 8% in 2012, to $498 billion, while the Chinese surplus soared by 15%, to $755 billion. The $35 billion increase in the U.S. deficit resulted in the loss of 140,000 to 280,000 American manufacturing jobs. Policy Analysis

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