Wrong news at the right time, news by Hebei Longsheng
| Wrong news at the right time shows success of Trump's trade policies U.S. trade activity fell for a third straight month in November with a 2.0% year over year slide. Services activity continued to improve while goods fell once again. Both the total and goods deficits fell to their lowest since Oct. 2016. While that’s not a positive from an economic theory perspective, it suggests the Trump administration’s tariff-led trade policies are proving successful in achieving their deficit-led objectives. The goods deficit with China fell 30.4% to $26.4 billion, which should be supportive for relations ahead of mid-January negotiations to complete the phase 1 trade deal. Similarly the deficit versus the EU fell 13.5% ahead of mid-January talks between Commissioner Phil Hogan and Ambassador Robert Lighthizer. The drop was the result of imports slipping for the first time in four months – a 13.7% slide in shipments of cars and a 19.7% descent in aerospace imports were the main reasons. The fly in the ointment was a 24.0% rise in the deficit with Canada and Mexico, though that’s unlikely to derail passage of the U.S.-Mexico-Canada Agreement through the U.S. Senate. Hebei longsheng Metals and Minerals Co, Ltd. |
