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US trade deficit hits record high as businesses, consumers try to get ahead of Trump tariffs (1 Viewer)

Ikari

Ikari

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The U.S. trade deficit soared to a record $140.5 billion in March as consumers and businesses alike tried to get ahead of President Donald Trump’s latest and most sweeping tariffs — with federal data showing an enormous stockpiling of pharmaceutical products.

The deficit — which measures the gap between the value of goods and services the U.S. sells abroad against what it buys — has roughly doubled over the last year. In March 2024, Commerce Department records show, that gap was just under $68.6 billion.

According to federal data released on Tuesday, U.S. exports for goods and services totaled about $278.5 billion in March, while imports climbed to nearly $419 billion. That’s up $0.5 billion and $17.8 billion, respectively, from February trade.

Consumer goods led the imports surge — increasing by $22.5 billion in March. And pharma products in particular climbed $20.9 billion, the U.S. Census Bureau and Bureau of Economic Analysis noted, signaling fears about future levies impacting the sector.
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Ballooned our trade deficit due to tariffs, not exactly surprising. But it's ok, our trade deficit will plummet as these tariffs kick in when exports/imports and consumerism plummet.
 
Ikari said:
Ballooned our trade deficit due to tariffs, not exactly surprising. But it's ok, our trade deficit will plummet as these tariffs kick in when exports/imports and consumerism plummet.
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Correct...not surprising and it IS okay. And, the trade deficit will plummet, but it'll be because Americans will be buying AMERICAN goods...not Chinese goods.
 
Ikari said:
Ballooned our trade deficit due to tariffs, not exactly surprising. But it's ok, our trade deficit will plummet as these tariffs kick in when exports/imports and consumerism plummet.
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Coffee. That's what I'd be hoarding if I were American. Maybe sugar and flour too.
 
Mycroft said:
Correct...not surprising and it IS okay. And, the trade deficit will plummet, but it'll be because Americans will be buying AMERICAN goods...not Chinese goods.
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It takes years to set up new factories and supply chains. So you are saying American consumers will be suffering for years?
 
Ikari said:
Ballooned our trade deficit due to tariffs, not exactly surprising. But it's ok, our trade deficit will plummet as these tariffs kick in when exports/imports and consumerism plummet.
Click to expand...
That Heard and McDonald Islands deal is coming and all will be well.
:)
 
Questerr said:
It takes years to set up new factories and supply chains. So you are saying American consumers will be suffering for years?
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Yeah, but maybe Donnie Boy will invite them over to Mar-A-Lago for some hamberders to easy the suffering.
:)
 
Mycroft said:
Correct...not surprising and it IS okay. And, the trade deficit will plummet, but it'll be because Americans will be buying AMERICAN goods...not Chinese goods.
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Well it will be because Americans are buying less and have less.
 
Unemployment was already at record lows. Who will be working those factories? And who will be paying the higher salaries?
 
Questerr said:
It takes years to set up new factories and supply chains. So you are saying American consumers will be suffering for years?
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Yes, and MAGA will root for it.
But if a Dem takes WH in 2029, MAGA will start screaming about everything being too high.
 
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