Goods Trade Deficit Soars 12.8% in December: Year-Over-Year Exports Down 0.3%

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In December, goods exports fell $4 billion while imports rose $5 billion. Year-over-Year exports are now negative.

The Census Department Advance Report on International Trade for December was released today after a government shutdown delay.

Advance International Trade in Goods

  • The international trade deficit was $79.5 billion in December, up $9.0 billion from $70.5 billion in November.
  • Exports of goods for December were $135.7 billion, $4.0 billion less than November exports.
  • Imports of goods for December were $215.2 billion, $5.0 billion more than November imports.
  • Agricultural exports fell 1.8%.
  • Year-over-year exports are down 0.3%.
  • Year-over-year imports are up 3.2%.

Trump Desperate for a Deal

As a tribute to Trump's tariff policies and China's retaliations, year-over-year agricultural exports are down a whopping 5.5%.

Note that US Farm Belt Bankruptcies Climb, Canada the Beneficiary of Trump's Trade Policy.

Trump is desperate for a deal with China. So expect one: Hooray! "Substantial" Progress With China (Just Don't Ask Where).

And don't expect a huge victory no matter what Trump proclaims.

Mike "Mish" Shedlock

Comments (21)
No. 1-7
Realist
Realist

The pain of Trump’s tariff war is becoming too great. Hopefully, the US and China will reach an agreement and end this trade war soon.

shamrock
shamrock

You can't have a buffoon as the face of your countries products without negative consequences. I've no doubt people are less likely to buy American thanks to him, revenue at Trump hotels are down much more than 0.3%.

Mish
Mish

Editor

There is a second reason Trump wants a deal - He can and likely will increase tariffs on the EU - he doesnt want two trade wars at once

Escierto
Escierto

So much winning! I am getting tired of so much winning!

stillCJ
stillCJ

Editor

Ag exports are "down a whopping 5.5%"? Wow, from all the hoopla about that I thought it would be much worse. It was much worse when Jimmy Carter banned all ag exports to the #1 US customer - Russia - when he was president.

Bam_Man
Bam_Man

"We're gonna need a bigger boat."

wootendw
wootendw

So US trading partners are, aggregately, selling US more than they buy from US. What are they doing with the dollars they receive? Buying treasuries? Which countr(y/ies) (is/are) the net buyer(s)?