US Trade Deficit Up To $67.1 Billion In August, 14-year High

President Donald Trump campaigned on a pledge to bring down America’s persistent trade deficits. He imposed taxes on imports of steel, aluminum and most products from China, among other things; and renegotiated a North American trade pact in an effort to encourage more production in the United States.

But the trade deficit won’t yield easily to changes in trade policy. As the U.S. economy recovers from springtime shutdowns, Americans are buying more imported goods while foreign demand for U.S. products remains weak. And after a strict lockdown in February, China’s factories got up and running faster than those in most places.

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