February 14, 2008: U.S. Trade Deficit with China Will Exceed a Quarter of a Trillion Dollars in 2007
February 14, 2008
“The December figures confirm that our trade deficit with China will climb by more than 10 percent this year,” Kaptur said.
“The $18.8 billion December deficit with Communist China means ourannual deficit with that nation will exceed a quarter of a trilliondollars for the first time in history. That means lost jobs and lostwealth in America.”
The Commerce Department reported this morning that the U.S. tradedeficit in goods and services for December declined to $58.8 billion,compared to $63.1 billion in November due primarily to lower oilprices.
Congresswoman Kaptur noted a slight decline in the monthly tradedeficit with China in December 2007 compared to the same period a yearago.
“December was the only month this year when our trade deficit withChina was lower than the corresponding month in 2006,” she said.
The deficit with China in December was $18.8 billion, compared to $18.9 billion for the same period a year ago.
“The $18.8 billion December deficit with Communist China means ourannual deficit with that nation will exceed a quarter of a trilliondollars for the first time in history. That means lost jobs and lostwealth in America.”
The Commerce Department reported this morning that the U.S. tradedeficit in goods and services for December declined to $58.8 billion,compared to $63.1 billion in November due primarily to lower oilprices.
Congresswoman Kaptur noted a slight decline in the monthly tradedeficit with China in December 2007 compared to the same period a yearago.
“December was the only month this year when our trade deficit withChina was lower than the corresponding month in 2006,” she said.
The deficit with China in December was $18.8 billion, compared to $18.9 billion for the same period a year ago.