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U.S. Trade Deficit in Goods Jumps 12.8% Amid Tariff Battle

Posted March 01, 2019

Under Economic Issues, International Trade Issues

(Jeff Cox – CNBC)

The U.S. trade deficit in goods jumped to end 2018 amid a surge in imports, a move that could cause fourth-quarter economic growth estimates to be lowered, according an advanced look from the Census Bureau on Wednesday.

December saw a $79.5 billion goods deficit, up 12.8 percent from the $70.5 billion in November. The move came amid a $4 billion decline in exports, to $135.7 billion, and a $5 billion increase in imports, to $215.2 billion.

The Census report does not include services.

Trade deficits continued to grow throughout the year for the U.S. despite President Donald Trump's moves to curb the shortfall through tariffs. The White House and China are in the middle of negotiations aimed at beating a March 1 deadline after which more aggressive tariffs could take effect. Trump, however, said it's unlikely the U.S. would amp up the tariffs if the deadline isn't met. Click here to read more.