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

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Courtesy: Creora

Textiles | On 28th Mar 2017

Hyosung holds Creora workshops in China, HK & Taiwan

South Korean specialty fibre producer Hyosung held a series of...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search