imports

Trade Deficit for July 2011 - $44.8 Billion

The July 2011 U.S. trade deficit decreased $6.8 billion to $44.8 billion. This is a 13.11% monthly decrease in the trade deficit. Exports increased by $6.2 billion, or 3.61%, while imports decreased $0.5 billion, or 0.22%. China imports, not seasonally adjusted, increased 1.12% in July, creating a $27 billion trade deficit with China.

 

Trade Deficit for June 2011 - $53.1 Billion

The June 2011 U.S. trade deficit increased $2.3 billion to -$53.1 billion. This is a 4.4% monthly increase in the trade deficit. Both imports and exports decreased, showing a slowing of global trade. The trade deficit wasn't this big since October 2008. Exports decreased -$4.1 billion, or -2.34% from last month while imports decreased -$1.9 billion, or 0.83%.

China Trade Surplus for January 2011

The headlines blare China's trade deficit shrunk, yet what does that mean for the United States and it's massive deficit with China?

Imports jumped 51% from the year-ago period, while exports grew by 37.7%, according to reports citing official data released over state television Monday.

While reports show China's trade surplus was cut by half, from $13.1 billion to $6.5 billion, unless those imports come from the United States, a 37.7% China export increase from a year ago is not good news for America.

The United States is China's biggest export destination, so odds are those exports are coming here. Notice China reports only two way trade, but most of the trade with the U.S. is one way and that is China exporting to America.

More of the rise in imports is due to increasing commodity prices:

he average price of imported iron ore was more than US$151 per ton, rising 66 percent year-on-year, while bean prices rose 20.4 percent.

The China State Press has a different take and notes China's trade activity has surged 44% from one year ago.

The European Union remained China's largest trade partner in 2010, with EU-China trade up 30.5 percent year on year to 45.97 billion U.S. dollars.

Canadian GM Auto Workers Fighting Offshore Outsourcing

GM, after receiving billions in U.S. taxpayer money, is repaying Americans by offshore outsourcing their jobs. Canadian auto workers are raising hell (and it was not even their taxpayer money) about it, trying to get limits on imports.

The Canadian Auto Workers union says Ottawa must make sure General Motors of Canada doesn't import any more vehicles from offshore countries if the government wants to protect jobs here and assure protection of public investment in the teetering automaker.

As talks for worker concessions continue in Canada, Detroit-based parent GM Corp. – which is seeking billions of dollars in public loans – has revealed to the U.S. Congress it plans to start importing small cars from China within two years. Union officials in both countries say the move will kill jobs in North America.

Year-over-year Deflation is here

November import and export prices have been reported by the Bureau of Labor Statistics, and they reflect firmly implanted deflation. Monthly prices for imports declined (-6.8%), as did export prices (-3.2%). Even leaving aside Oil, monthly import prices declined (-1.8%) .

Even year over year comparisons now show deflation:
- all imports (- 4.4%)
- all exports (- 0.2%)

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