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The self-proclaimed savior of trade is making the deficit WORSE. Cenk Uygur and John Iadarola, hosts of The Young Turks, break it down.
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"As President Donald Trump continues to defend the use of tariffs amid trade disputes with America’s international trading partners, indications are that the national trade deficit is about to see its highest point in 10 years.
Wall Street Journal reports that the Commerce Department has announced a $55.5 billion foreign-trade gap for goods and services. Imports for goods like foreign vehicles saw record numbers in October while exports seem to be in decline.
The Journal notes that the U.S.’s trade deficit comes from the fact that the country typically imports more goods than it exports. Some economists say this is because Americans often consume more products than they produce compared to other international economies, and that trend could go up if economic growth leads to continued spending.
Trump recently suggested that there could soon be a ceasefire in trade wars with China."
Hosts: Cenk Uygur, John iadarola
Cast: Cenk Uygur, John Iadarola
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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