U.S. trade deficit jumps 6.7% to record high
The trade gap widened to $75.7 billion
Imports rose 2.1% to $283.4 billion
Exports edged up 0.6% to $207.7 billion
MarketWatch 5 August 2021
https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf
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We’d buy cheap goods made in other countries, and they’d buy our expensive services, and it would all balance out. That was the rationale.
Few economic rationales have failed more spectacularly.
Wolf Richter 4 May 2021
https://englundmacro.blogspot.com/2021/05/services-trade-surplus-american-dream.html
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