In recent months the U.S. national trade deficit shrank to the lowest level since the 2016 presidential election, with new numbers showing the export-import ratio down by 6.6 percent from April. #MAGA!
The Commerce Department said the trade deficit (the difference between what the United States exports and what it imports from foreign countries) was $43.1 billion for the month of May, down 6.6 percent from April.
“May exports rose by 1.9 percent from the previous month to $215.3 billion, while imports increased by 0.4 percent to $258.4 billion,” writes CNBC. “The trade deficit is at its lowest level since October 2016, a month before the presidential election.”
The strong economic data comes on the same day as another government report showed a record number of Americans taking part in the US labor force; smashing estimates and prompting economists to raise doubts of a possible “labor shortage” in the coming months.
The data was released the same day the U.S. and China started their trade war with both countries applying tariffs on $34 billion worth of the other country’s goods.
Democrats and NeverTrumpers laughed at Donald Trump when he said he would get better trade deals for America. As President-Elect Trump said, he favored trade liberalization, but he opposed several U.S. free trade agreements because they were poorly negotiated and resulted in millions of Americans losing jobs. He carried that sentiment over into global trade deals.
Just last week in a CNN Op Ed on trade, Jeffrey Sachs, a professor and director of the Earth Institute and director of the Center for Sustainable Development at Columbia University, called Trump “the Manchurian Candidate, a stooge of some foreign potentate. Much more likely, Trump is just mentally unstable and narcissistic. Whichever it is, Trump is rapidly destroying American global leadership, alliances, and interests. Wednesday’s announcement of new tariffs on steel and aluminum exports from Canada, Mexico, and the European Union is the latest bizarre and self-destructive move.”
One week later we have great trade economic news. So much for the analysis of the professor who doesn’t actually understand sustainable growth. A reporter who followed Sachs through Africa where he tried to eradicate poverty said the more she got to know him, the more she perceived in him a deep unwillingness to concede any shortcomings in his ideas or their implementation. In other words, he’s a typical left-wing professor who is smarter than everyone in the room. Just ask him.
All you need to know about this nitwit with an academic pedigree is the foreword for his 2017 book “Building the New American Economy: Smart, Fair and Sustainable” was written by Democratic Socialist Bernie Sanders. Enough said.
For whatever reason NeverTrumpers continue to stand by their early augury and epitaphs of Trump’s trade negotiations, even now, in the face of empirical evidence, this president is winning, and that means we are winning, as Donald Trump continues to fight to Make America Great Again.