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US trade deficit with China in Nov

11
Jan '07
The U.S. trade deficit with China in November 2006 jumped to $22.9 billion, up from $18.5 billion in November 2005. This $4.4 billion increase represents a nearly 24 percent rise. At its current pace, the U.S. trade deficit with China easily will exceed $230 billion in 2006, up from $202 billion in 2005.

Although the 2006 U.S. trade deficit with China dropped from $24.4 billion in October to $22.9 billion in November, this was expected. Many Christmas orders are filled by the end of October. Moreover, this year's drop in the trade deficit with China from October to November only was $1.5 billion. Last year's drop was $2 billion, as the 2005 U.S. trade deficit with China fell from $20.5 billion in October to $18.5 billion in November.

“November's numbers prove the U.S. trade imbalance with China is worse than ever,” said American Manufacturing Trade Action Coalition (AMTAC) Executive Director Auggie Tantillo. “Protectionist China keeps cheating and the U.S. government continues to take no substantive action.”

“The voters sent Congress a message of change in the last election and tackling the China problem was part of the 'to do' list. The new Congress must act where the Executive Branch has failed. Congress should hold comprehensive hearings on the root causes of the trade imbalance, focusing on issues like value-added tax rebates, currency manipulation, non-performing loans, and intellectual property rights violations,” Tantillo continued.


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