Press Release: November trade deficit rose 7%, government report

January 06, 2017

Washington ~ The Bureau of Economic Analysis (BEA) released a report today showing that the US trade deficit rose by nearly 7% compared to October

“America continued, last November, losing the international competition for good jobs and industries,” said Michael Stumo, CEO of the Coalition for a Prosperous America. “The Obama-Bush-Clinton trade agreements promised export opportunities but delivered import facilitation, net offshoring and middle class destruction.” 

The main points of the BEA report are:

1. the goods and services deficit was $45.2 billion in November, up $2.9 billion from $42.4 billion in October

2. exports were down, led by lower sales of goods, on both a monthly and annual basis

3. imports were up, led by increased purchases of overseas goods, on both a monthly and annual basis 

“We stand ready to work with the Trump administration and Congress to reverse the trade mistakes of the past,” continued Stumo. “America needs to set a goal of eliminating the trade deficit and rebuilding our manufacturing and agricultural supply chains to produce good jobs and broadly shared prosperity.”

The Coalition for a Prosperous America is a nonprofit organization representing the interests of 2.7 million households through our agricultural, manufacturing and labor members.

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