We cannot in good consience attribute this startlling news, that the US Trade Deficit has reached record levelsof defficiency, on the Biden administration alone, especially as this administration still has in place most of the tariffs the Trump administration had that target China. Still, the trend to sell off American self-reliance for corpostate nationalsit profit is continuing, whether under Trump or under Biden, and is reaching startlingly record levels.
From www.cnbc.com Excerpt: The U.S. trade deficit hit a fresh record high in March as U.S. consumers flush with government cash spurred a continuing demand for foreign-made goods.
With a new round of $1,400 stimulus checks pouring in and the domestic economy continuing to show substantial improvement, the imbalance in goods and services with the rest of the world swelled to $74.4 billion, the Commerce Department reported Tuesday.
That’s the highest level ever in a data series that goes back to January 1992, and represents a 57.6% increase from the same period a year ago and higher than the $70.5 billion in February.