Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Trade Deficit up again in March
This morning, the BEA issued its preliminary estimate of our March 2010 trade statistics. Our trade deficit climbed again, led by a growing trade deficit with Europe. Overall, our trade deficit rose from $39.4 billion in February to $40.4 billion in March. Meanwhile our trade deficit with the European Union rose from $5.3 billion in February to $7.1 billion in April, probably as a result of the dollar rising v. the euro.
We had a good month of trade with China, which is, right now, stocking up on commodities. Our trade deficit with China only rose slightly, from $16.5 billion in February to $16.9 billion in March with China's imports from the United States rising from $6.9 billion to $7.4 billion.
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