US trade deficit swells to a record $43bn for just one month

[NNN0LHI]

http://www.guardian.co.uk/uselections2004/story/0,13918,1166915,00.html

Charlotte Denny
Thursday March 11, 2004
The Guardian

The Bush administration's handling of the economy moved higher up the electoral agenda yesterday when official figures showed America's trade gap with the rest of the world swelled to a fresh record of $43.1bn in January.
The dollar's fall against world currencies since last September has failed to price American exports back on to world markets, commerce department figures showed. US exports slipped slightly, to $89bn in January, the second consecutive monthly decline. Imports dipped from the record set in December but were still the second highest, ever at $132.1bn.

Rising concern over the trade deficit has fuelled protectionist sentiment during the early stages of the US electoral campaign with both parties blaming China and other low cost developing economies for stealing US jobs.

"We're starting this year right where we ended last year, with a growing trade deficit that adds to American workers' anxiety," said Sherrod Brown, an Ohio Democrat congressman. "These workers look at this trade deficit and fear their job will be the next one shipped overseas or their plant will be the next one to close."

more

[whistle]

1. And the U.S. greenback....

...drops again. Would somebody please send "Economics for Dummies" to the White House.