August Trade Battle Lost as U.S. Goods Deficit Hits Record on Bean and Car Slump — Panjiva


August Trade Battle Lost as U.S. Goods Deficit Hits Record on Bean and Car Slump

Ags - Grains/Beans 162 China 1758 Cons. Discr. - Autos 661 Energy - Crude Oil 194 Industrials - Aero/Defense 132 Tariffs 1169 Trade Balance 657 U.S. 3297

The U.S. trade deficit surged 21% higher in August vs. a year earlier, including a 17% jump in the goods deficit to a record $77 billion. The most significant gain in the goods deficit was with China with an 11% increase to $39 billion. The widening trade war between the U.S. and China did not appear to go America’s way in August. Imports rose by 5% while exports to China fell by 14%, the first decline since January. Much of that was accounted for by four product groups including a 95% slump in soybeans and a 56% drop in passenger car exports resulting from retaliatory duties. State-owne...

PANJIVA RESEARCH is a service provided by Panjiva, Inc. ("Panjiva") to relevant global subscribers, and are deemed to be Panjiva "Services" subject to the Panjiva Terms & Conditions of Use. Information contained within or made available via the Services is for informational purposes only and nothing in the Services shall constitute or be construed as an offering of financial instruments, or as investment advice or recommendations by Panjiva, Inc. or its affiliates of an investment strategy or whether to "buy", "sell" or "hold" an investment. The Services may include views and commentary about customers of Panjiva. No aspect of the Services is based on consideration of your individual circumstances, and you should determine on your own whether you agree with the information contained within or made available via the Services. Employees involved in Panjiva Research may hold positions in securities analyzed or discussed in the Services. Panjiva does not make any express or implied warranties, representations, endorsements or conditions with respect to the Services and the information contained within or made available via the Services, including without limitation, warranties as to the usefulness, completeness, accuracy, currentness, reliability or sufficiency of any information (including, without limitation, conclusions, statements, opinions, estimates, forecasts or projections of any kind) and expressly disclaims any implied warranties. Neither this disclaimer nor any of its contents may be forwarded or redistributed without the prior written consent of Panjiva. © 2019 Panjiva, Inc. All Rights Reserved.