Washington, D.C. – The Commerce Department released the latest monthly U.S. trade figures Tuesday. The overall monthly U.S. international goods and services trade deficit increased to $41.9 billion in May, from $40.7 billion in April, revise
[Reposted from the Alliance for American Manufacturing site | July 7, 2015]
- The monthly U.S. goods deficit with China increased in May to $30.6 billion, from $26.5 billion in April.
- The U.S. goods deficit with Japan was $6.4 billion in May.
- The U.S. goods deficit with South Korea was $2.4 billion in May.
Said Alliance for American Manufacturing President Scott Paul:
“The whopping trade deficit with China in May reminds us that we have a long way to go before we can declare a true resurgence for American manufacturing. As Walmart celebrates its ‘Made in America’ program today, it’s worth remembering that Walmart imports more goods from China than any other American company. Walmart may be singing a different tune today than it was five years ago, but it hasn’t really changed its stripes."
The Alliance for American Manufacturing (AAM) is a non-profit, non-partisan partnership formed in 2007 by some of America’s leading manufacturers and the United Steelworkers. Our mission is to strengthen American manufacturing and create new private-sector jobs through smart public policies. We believe that an innovative and growing manufacturing base is vital to America’s economic and national security, as well as to providing good jobs for future generations. AAM achieves its mission through research, public education, advocacy, strategic communications, and coalition building around the issues that matter most to America’s manufacturers and workers.