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US trade deficit is really a lot
#1 · February 7, 2023, 10:23 PM
US trade deficit is really a lot: "The U.S. trade deficit widened to a record $948.1 billion last year, according to new Commerce Department data. The trade deficit — the gap between what the U.S imports and what it exports — was up 12.2% from 2021, with Americans buying large amounts of machinery, medicines, industrial supplies and car parts from overseas. Data also shows supply chains in flux, a result of businesses trying to diversify where they source goods and U.S. government efforts to curb reliance on China. Still, the U.S. trade deficit with China grew more than 8% to $382.9 billion in 2022. That's the second-highest total on record."
What this shows is that America spends a lot and is a great market for any trading partner.