Home / Knowledge / News / China accounts for 55.8% of trade deficit in H1
China accounts for 55.8% of trade deficit in H1
12
Sep '08
Analysis of data posted on the U.S. Department of Commerce's TradeStats Express website shows that U.S. trade imbalances with China accounted for 55.8 percent of the total U.S. trade deficit in manufactured goods for the first half of 2008 compared to 47.2 percent for the first half of 2007.

The U.S. government's statistics show that under the NAICS classification system for "all manufactured goods" that China accounted for $123,027,407,000 (55.8 percent) of the $220,378,317,000 total U.S. trade deficit in manufactured goods for the first half of 2008. For the first half of 2007, China accounted for $120,675,264,000 (47.2 percent) of the $255,609,211,000 deficit.

"The fact that a single country now accounts for more than half of the U.S. trade deficit in manufactured goods should be sounding alarm bells for the presidential candidates and the Congress," said American Manufacturing Trade Action Coalition (AMTAC) Executive Director Auggie Tantillo. "China brazenly is cheating to seize this market share and the U.S. government has failed to respond effectively," he continued.

"It should not surprise anyone that the United States is running such a huge, job-destroying trade deficit with China when that country gives substantial competitive advantages to its producers such as the imposition and rebating of value-added taxes, illegal currency manipulation, and a host of other illegal subsidy programs," Tantillo added.

"Rather than ducking the China trade deficit issue on the campaign trail, both presidential candidates need to start talking in detailed specifics on how they plan to stop China from cheating and to boost U.S. manufacturing jobs and output. Only then will the American people know that the presidential candidates are serious about fixing the U.S. economy," Tantillo concluded.

American Manufacturing Trade Action Coalition (AMTAC)


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search