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2019-07-12 08:01:00| GoldSeek.com News

Since Trump has been in office, the trade deficit has widened by 25% (as has the US budget deficit). The trade deficit is widening because countries are importing fewer US goods and because they are lowering the value of their currency against the dollar, and we measure trade in dollars. As foreign currency devalues, it takes fewer of those dollars to buy the same amount of goods. That devaluation of foreign currencies good for US consumers, but bad for US exporters because the price of their goods in foreign currencies goes up because they start out being built and priced in dollars, so they sell fewer goods abroad. Its also bad for US trade statistics. When other nations lower their currency the lower price of goods in US dollars increases the amount of goods on the foreign side of the ledger that the US imports, widening the trade deficit.

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