US – Oct Trade Balance
07/12/2018 09:50 am MYT
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In Oct, the US trade deficit widened 1.7% from Sep to US$55.5 bln – see figure 1. Exports fell by 0.1%, month-on-month, to US$211.0 bln, while imports rose by 0.2% to US$266.5 bln. On a year-on-year basis, exports and imports increased by 6.3% and 8.5% respectively. The strengthened US$ is likely to be a drag on exports. Whether Trump’s tariffs will significantly improve the US trade deficit or not is still a big question. In Jan-Oct 2018, the US trade deficit widened 11.4% when compared with the same period a year ago.

 

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Note from Publisher
This week, the world economy and financial markets underwent extreme volatility due to the actions of one person. The US-China trade conflict has evolved into an all-out trade war as both countries threatened more actions following the initial rounds of tit-for-tat tariff hikes. As if the global condition is not turbulent enough, after bullying China, the same person turned his gun on Iran, threatening to start a war in the Middle East.

With the most powerful country on earth being the biggest threat to world peace, what can the rest of the countries do ? The other peace-loving countries on earth must unite and reject Donald Trump’s hypocrisy and destructive policies. Although the US is still the largest economy in the world, she is no longer as critical as say 40 years ago. Nowadays, when the US sneezes, the world needs not necessary catch a cold. China, Europe, and the Asian developing countries together can hold up the global economy.

In addition, economists and researchers around the world must publish articles to counter the lies by Donald Trump that the trade war is benefitting the US and Americans. Americans must not be cheated by their president again.
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