MAPI: Manufactures Trade Deficit up $89B, Job Loss 620K

February 05, 2016


A quick report from Ernest Preeg of MAPI: U.S. exports of manufactures in 2015 were down $40 billion, or 3%, imports were up $49 billion, or 3%, and the trade deficit surged $89 billion, or 16%. 

This equates to a trade-related loss of 620,000 American manufacturing jobs, up from a 400,000 job loss in 2014.  China accounted for 60% of the U.S. global deficit, with U.S. manufactured imports from China 5.8 times larger than U.S. exports to China.  A MAPI detailed report on U.S. and Chinese trade in manufactures in 2015 will be out in the next week.

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