- President Donald Trump has pursued an aggressively isolationist trade policy since taking office, imposing tariffs on U.S. rivals and trading partners alike with the intent of boosting the sale of American made goods. But according to Politico, a new report from the Department of Commerce reveals just out utterly Trump’s plan has failed.
- “The monthly U.S. trade deficit in goods hit a record high in August, despite President Donald Trump’s 2016 campaign promises to reduce it dramatically by negotiating new trade deals and getting tough on unfair foreign trade practices, a Commerce Department report showed on Tuesday,” reported Doug Palmer.
- “The overall trade deficit was $67.1 billion, reflecting a surplus in services trade with the rest of world — the highest since 2006. The deficit for U.S. goods trade by itself was $83.9 billion, the highest ever recorded.”
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