arabtoday
Last Updated : GMT 23:11:07
Arab Today, arab today
Arab Today, arab today

US trade deficit jumps on eve of Xi visit

Arab Today, arab today

Arab Today, arab today US trade deficit jumps on eve of Xi visit

Washington - AFP

On the eve of a visit by China\'s vice president and heir-apparent, the Commerce Department reported Friday that the US trade deficit widened to a six month high, thanks in large part to imports from China. Official data showed that the deficit deepened to $48.8 billion in December, the most since June 2011, as President Barack Obama prepared to welcome Xi Jinping, widely tipped as China\'s next president, in Washington next week. Amid stronger US demand -- spurred by the improving economy -- goods imports grew by $2.7 billion, outpacing export growth. \"Thanks to a weak greenback, exports rose for the first time in a few months, up 0.7 percent in December or nine percent from a year ago. Imports also gained ground however,\" said economist Jennifer Lee of BMO Capital Markets. That took the full 2011 shortfall to $558 billion. More than half that figure was thanks to the politically sensitive trade deficit with China, prompting more handwringing about Beijing\'s huge advantage in the bilateral economic relationship. \"The US-China trade deficit reached a record high of $295.5 billion in 2011, which will add fuel to the fire of political trade debate,\" said David Resler of Nomura bank. The response from the US industry lobby, which accuses China of stealing US business and jobs, was swift. \"From an economic point of view, the trade deficit with China shows just how strong the headwinds are against \'insourcing\' jobs back to the United States,\" the Alliance for American Manufacturing said. \"From a political point of view, the trade deficit with China shows just how little leadership Congress and the president are providing on international economic matters.\" As the United States approaches November\'s presidential elections, the calls for China to be punished for allegedly unfair trade practices as become ever-more shrill. In his State of the Union address last month Obama announced the formation of a trade enforcement unit that would look into unfair trade -- training his sights squarely on Beijing. \"I will not stand by when our competitors don\'t play by the rules,\" he told lawmakers. Tit-for-tat trade actions have been building since the Obama administration levied sanctions against allegedly subsidized Chinese tires in 2009. The US has now levied counter-veiling and anti-dumping duties against some two dozen Chinese products, from steel bars to frozen shrimp, and has lodged WTO complaints over Chinese solar panels, wind turbines and other products. China has responded with its own punitive duties on imported US chicken and luxury cars and WTO counter-complaints. Xi arrives on Tuesday for a get-to-know-you visit with Obama, with a full range of political issues on the agenda.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us trade deficit jumps on eve of xi visit Arab Today, arab today us trade deficit jumps on eve of xi visit

 



Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today Holiday magic is everywhere

GMT 13:04 2016 Saturday ,03 December

Holiday magic is everywhere
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today As nearly 20,000 children flee Aleppo

GMT 07:50 2016 Saturday ,03 December

As nearly 20,000 children flee Aleppo
Arab Today, arab today What next after landmark

GMT 09:01 2016 Saturday ,03 December

What next after landmark
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Dino-killing crater shows clues

GMT 14:43 2016 Thursday ,24 November

Dino-killing crater shows clues
Arab Today, arab today For Yazidi women left behind

GMT 08:00 2016 Saturday ,03 December

For Yazidi women left behind
Arab Today, arab today Green groups pressure Spain

GMT 13:01 2016 Thursday ,01 December

Green groups pressure Spain
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today Austria's race against time

GMT 11:44 2016 Thursday ,01 December

Austria's race against time
Arab Today, arab today Car manufacturers to power Europe

GMT 13:01 2016 Tuesday ,29 November

Car manufacturers to power Europe

GMT 12:45 2016 Tuesday ,29 November

To find German funny bone

GMT 13:52 2016 Monday ,28 November

Punk memorabilia torched

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 12:39 2016 Friday ,25 November

Arctic 9-12C above normal

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:19 2016 Monday ,21 November

New nationalism stoking fears

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday