U.S. Monthly Trade Deficit Down in April
June 5, 2015 | MAPI FoundationEstimated reading time: 1 minute
The Commerce Department released the latest monthly U.S. trade figures this morning. The overall monthly U.S. international goods and services trade deficit decreased to $40.9 billion in April, from $50.6 billion in March, revised.
- The monthly U.S. goods deficit with China decreased in April to $27.5 billion, from $38.9 billion in March. The trade deficit with China is up $12.4 billion year-to-date compared to 2014.
- The U.S. goods deficit with Japan was $6.7 billion in April. The trade deficit with Japan is up over $1.5 billion year-to-date compared to 2014.
- The U.S. goods deficit with South Korea was $2.1 billon in April, up nearly $3 billion this year.
Said Alliance for American Manufacturing President Scott Paul:
“The monthly decline in the trade deficit masks an uncomfortable truth: Global industrial overcapacity, an overly strong dollar, and unfair trade practices are contributing to a surge in our 2015 trade deficit. All the year-to-date numbers are headed in the wrong direction, and they help to explain the sudden drop in manufacturing hiring so far this year.
"Underinvestment in domestic infrastructure and research, combined with a flood of manufacturing imports, are stifling manufacturing’s comeback. Our workers and businesses are doing all that they can to be globally competitive, but Washington stands in the way. Passing a robust and long-term infrastructure plan, boosting trade enforcement efforts, and penalizing currency manipulation are essential ingredients in a true manufacturing resurgence. ”
Suggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
04/19/2024 | Marcy LaRont, PCB007 MagazineFor my must-read picks of the week, I’m highlighting Parker Capers, a young professional seeking employment, solid counsel from Dan Beaulieu on what your post-show plan should look like, more information and insight on “chiplets” and the need for secure data transfer standards from columnist Preeya Kuray, as well as Matt Stevenson’s design for reality wisdom. It’s a reminder to download one of our newest books (there are several) you don't want to miss if you are an assembler.
Absolute EMS Champions Collaboration Between Humans and Robots in Modern Manufacturing
04/19/2024 | Absolute EMS, Inc.Absolute EMS, Inc., an award-winning EMS provider of turnkey contract manufacturing services, offers a perfect factory environment that seamlessly blends robotic automation with human expertise.
ZESTRON Welcomes Whitlock Associates as New Addition to their Existing Rep Team in Florida
04/19/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, is thrilled to announce the addition of Whitlock Associates to its esteemed network of sales representatives.
SEMI Applauds U.S. Chips Act Award for Samsung Electronics Facilities to Strengthen Domestic Semiconductor Supply Chain
04/17/2024 | SEMISEMI, the industry association serving the global electronics design and manufacturing supply chain, applauded the United States Department of Commerce’s announcement of a Preliminary Memorandum of Terms for an award under the CHIPS and Science Act to support the expansion of Samsung Electronics’ presence in Texas and the company’s development and production of leading-edge chips.
Ark Electronics Expands Global Manufacturing Factory Network in North America and Europe
04/17/2024 | PRNewswireElectronic Manufacturing Company Ark Electronics recently announced the expansion of its Global Factory Network with the addition of Electronics Manufacturing Service (EMS) capabilities in Mexico and Europe.