U.S. trade deficit with China and Mexico is growing

NAFTA explained

President Trump’s most hated number is getting bigger.

Trump often cites the U.S. trade deficit as a sign that America is losing to China, Mexico and other countries on trade. He uses it to justify renegotiating trade deals and slapping tariffs on other countries’ products.

And the president has promised repeatedly to cut the trade deficit. But so far this year, it’s only growing.

The trade deficit in goods and services was $463 billion from January through October, up 12% from a year ago, the Commerce Department said Tuesday. The United States has a surplus in services, such as banking, but a bigger deficit in goods, such as cars.

And the gap with Trump’s two favorite rhetorical trade targets, Mexico and China, is getting bigger. The overall…

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