Trumpenomics
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Damnit. I really needed $21,308.
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US Trade Deficit Hits Record High Despite Tariffs
US goods imports continued to outpace its exports last year, sending the country's trade deficit to a new high despite sweeping tariffs introduced by US President Donald Trump.
The gap between the value of goods imported into the US and American products sold to other countries widened by 2.1% compared to 2024, hitting roughly $1.2 trillion (£890bn), official figures show.
The rise emerged despite a sharp drop in trade with China, one of the earliest targets of the tariffs.
The gap runs counter to one of the White House's key aims which is to reduce the deficit, arguing that US reliance on overseas goods has hollowed out the country's production abilities and put national security at risk.
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Quarter look at how things are going since the election. Blue numbers are tentative.
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“It’s the most number-free budget we’ve seen in recent history,” said Maya MacGuineas, the president of the bipartisan Committee for a Responsible Federal Budget ...
... referring to the latest federal budget proposal by Trump.
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All is not bad news.
The March jobs report indicates that the U.S. economy added 178,000 jobs, with the unemployment rate decreasing to 4.3%. Job gains were primarily in healthcare, construction, and transportation sectors.
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