USA trade deficit rises on record imports from China

Statistics Canada says trade deficit narrows to $1.5 billion in October

Goods and services from China totaled $48.2 billion, while European Union imports amounted to $39.4 billion and Mexico's exports grew to $28.7 billion, which are all record highs.

The goods deficit with China increased from $34.6 billion in September to $35.2 billion in October.

The trade deficit increased to the highest since January and was above expectations of a Reuters poll of economists who had predicted the October deficit would stand at $47.5 billion.

Imports rose 1.6 per cent over September to US$244.6 billion, seasonally-adjusted, the highest since the Commerce Department began publishing the statistic in 1992.

To be sure, the export categories that dropped in October are typically volatile and prone to large swings from month to month, so soybeans or civilian aircraft exports could pick up again in 2017's remaining two months.

Trump, who has been highly critical of the USA trade deficit with China, shifted responsibility for the gap to previous US administrations for failing to crack down on China amid widening trade gaps.

Oklahoma RB Rodney Anderson facing rape allegation
A lawyer representing Anderson called the allegation false and sais Anderson "will be exonerated of any wrongdoing". "Mr. The woman said she was planning on taking Uber but that Anderson's friends insisted he take her home.

Good coming into the USA from China, Mexico and the European Union all hit record levels, which boosted the trade gap to $48.7 billion - from $44.9 billion in September- and is the highest since President Trump took office in January.

"The widening in the trade deficit in October was driven by a suspiciously large fall in food exports which is likely to be reversed next month..."

On the other hand, the Commerce Department said the value of exports edged down by less than a tenth of a % to USD195.9 billion.

Global trade data can be volatile from month to month. The overall trade deficit widened 11.9% so far this year compared with the same period in 2016.

He added, "Together with the depreciation of the dollar this year, we think export growth should rebound over the coming months, suggesting that net trade should be broadly neutral for economic growth next year".

The mounting trade deficit comes the administration of President Donald Trump enters the latter stages of fraught negotiations with Mexico and Canada to revamp the North American Free Trade Agreement.

Related News:

  • Steph Curry Hurts Ankle, Leaves Game In Crutches

    Steph Curry Hurts Ankle, Leaves Game In Crutches

    After the game, he exited the locker room using crutches, reportedly on his way to get X-rays. Curry has been averaging a team-high 26.3 points per game for the Warriors (19-6) this season.
    Support pours in as San Marcos community processes killing of beloved officer

    Support pours in as San Marcos community processes killing of beloved officer

    A Hays County SWAT team assisted the San Marcos Police Department during the standoff with the suspect, officials stated. He worked just about every day off to provide for his kids and because he knows we're shorthanded and we need the help.
    Lacking Florida teen discovered secure in NY

    Lacking Florida teen discovered secure in NY

    ABC News reports the Columbia County Sheriff's Office said Rodriguez had family in Canada and possibly Pennsylvania. According to an online roster , published by Next College Student Athlete, Frisina played soccer at the school.
  • Venezuela to launch cryptocurrency to fight Trump sanctions

    Venezuela to launch cryptocurrency to fight Trump sanctions

    The real currency, the bolivar , is in freefall, and the country is sorely lacking in basic needs like food and medicine. Maduro announced the new cryptocurrency known as "petro" on his weekly national TV program Sundays with Maduro .
    Qualcomm makes the Snapdragon 845 processor official

    Qualcomm makes the Snapdragon 845 processor official

    As with the outgoing Snapdragon 835 , Samsung is the fabrication partner, and the 845 will be built on the company's 10nm process. Gone are the days of a USB dongle to add mobile data as the NovaGo offers Gigabit LTE thanks to the Qualcomm modem.
    Gay Aussie MP proposes during marriage debate

    Gay Aussie MP proposes during marriage debate

    From the gallery, Mr Bolger said yes, with acting speaker Rob Mitchell asking for the answer to be recorded in Hansard. Mr Bolger beamed with a smile, and mouthed the word "yes", before the chamber broke into applause.
  • Passenger demand in Middle East picks up in October: IATA report

    Passenger demand in Middle East picks up in October: IATA report

    De Juniac urged governments to "raise their game" and do more to ensure infrastructure can cope with higher aviation demand. This indicated a lower forecast for 2017 than announced in June when IATA said Middle East profit would stand at $400m.
    Apple agrees to pay Ireland over $15 billion in back taxes

    Apple agrees to pay Ireland over $15 billion in back taxes

    In August 2016, Vestager said the tax deal struck between Apple and Ireland for the period 2003 to 2014 was illegal state aid . According to a top Irish official, Apple has agreed to to pay Ireland around $15.4 billion in back taxes.
    Sacramento Lobbyist Accuses Sitting Assemblymember of Sexual Assault

    Sacramento Lobbyist Accuses Sitting Assemblymember of Sexual Assault

    Lopez filed a complaint with the Assembly Rules Committee and told her story to an assembly hearing without naming the lawmaker. Tony Mendoza denies wrongdoing. "There are other women who have been sexually harassed by Matt Dababneh", Lopez told reporters.
  • Here's The Most-Liked & Retweeted Tweets of 2017

    Here's The Most-Liked & Retweeted Tweets of 2017

    Wendy's responded by saying they would give the man free chicken nuggets if his tweet was retweeted 18 million times. Curry, and others on the team, said that he didn't want to visit Trump in the White House.
    Destiny 2: Curse of Osiris Out Today, Here's the Launch Trailer

    Destiny 2: Curse of Osiris Out Today, Here's the Launch Trailer

    The company is taking the game offline for around three hours to perform the maintenance, which applies to PS4, Xbox One , and PC. Curse of Osiris also includes powerful new weapons and armour to unlock, as well as the all-new Raid Lair, Eater of Worlds.
    Twenty-First Century Fox Inc (NASDAQ:FOX) Position Trimmed by Fayez Sarofim & Co

    Twenty-First Century Fox Inc (NASDAQ:FOX) Position Trimmed by Fayez Sarofim & Co

    The stock has a market capitalization of $59,632.87, a price-to-earnings ratio of 16.77, a P/E/G ratio of 2.21 and a beta of 1.34. Over the course of the previous year FOX has set a 52-week high of $31.94 while the corresponding low set was $24.30.


Most liked

Rocker John Mayer undergoes emergency appendectomy
Get well soon, John Mayer! According a brief story on the TMZ website , the 40-year-old has been hospitalized in New Orleans . HollywoodLifers , leave your well wishes for John in the comments.

Lebanon's PM rescinds resignation as government agrees deal
Saudi Arabia's crown prince has made it a priority to counter the growing regional influence of Iran . The prince was displeased with Mr.

Next year's flagships may use Samsung's new 512GB internal flash storage
However, if the company starts using this storage module, we may be facing the prospects of losing the microSD card slot. Compared to a 64GB chip that could only hold 13 of these videos, that's a massive increase.

Lamborghini Wants in on the School Run SUV Market
Styling is inspired from the classic LM002 as well as the aforementioned Aventador and Huracán supercars. Lamborghini unveiled its new Urus SUV at its Italy headquarters on Monday.

UN Official Begins Rare Diplomatic Mission to North Korea
He will attempt to defuse growing tensions as North Korea pushes ahead with its nuclear weapons and ballistic missile program. The most senior American to visit North Korea in an official capacity recently was James R.

Go play… inside? Facebook debuts Messenger Kids
The app may be built for kids to use, but parents are the ones in the driver's seat. That's why it was smart that Facebook tasked Cheng with leading the project.

Willie Taggart named head football coach at FSU, reports say
A Florida native, Taggart spent one year in Eugene, leading the Ducks to a 7-5 record and an appearance in the Las Vegas Bowl. It hasn't even been a year since Taggart held his introductory press conference at OR , replacing Mark Helfrich.

Kim Kardashian Reignites Taylor Swift Feud with NSFW Pic & Fans Are MAD
After the makeup mogul posted the photo, Swift's fans immediately began swarming the comments section with rat emojis. The singer's loyal supporters have apparently trolled her rival Kim Kardashian with a slew of non-stop rat emojis.

Gujarat Elections 2017: Cyclone Ockhi pours cold water on poll campaign
He tweeted to inform that he has spoken to all relevant authorities and officials and that all possible assistance is being provided to those affected.

Russian Olympic Team Banned From 2018 Games
Russian President Vladimir Putin has previously said it would be humiliating for Russia to compete without national symbols. Meanwhile, Russian coaches and athletes were vehemently condemning the decision and discussing how it could be appealed.

Google pledges 10000 staff to its YouTube extremist video hunting army
Google ( GOOG , GOOGL ) will have 10K people reviewing and flagging content across its platforms by next year to teach AI how to do the job better.

Honor 7X and View10
It runs on Huawei's home-grown octa-core Kirin 659 processor clocked at 2.36 GHz and features a Mali-T830 MP2 graphics processor . It looks like a neat package, and despite it's affordable price, Honor have always impressed us with its build quality.

Special Counsel Tells Court Manafort Ghostwrote Op-Ed With Russian Colleague
All the charges related to alleged money laundering undertaken by Manafort in his time as a lobbyist. Prosecutors did not disclose the op-ed in court papers so as to prevent it from becoming public.

Heisman Straw Poll: Oklahoma's Baker Mayfield a unanimous choice
The Georgia Bulldogs will certainly have their hands full with Oklahoma quarterback Baker Mayfield in the Rose Bowl . He's the ultimate competitor and victor , and is one of the greatest young men I've ever had the pleasure to coach.

Chance of rain ahead of temperature drop
Friday will be mostly cloudy, with a high in the upper 30s and a Friday-night low in the mid 20s, the weather service said. Freezing temperatures will be likely for parts of the northern part of the viewing area by Friday and Saturday mornings.