U.S. September Trade Deficit Widens to Record $66.1 Billion
The various analysts and company spokespersons quoted in this article don't seem to be especially worried; they attribute the "record" deficits to one-time events, such as the Boeing strike and the September hurricanes. Ok, the Boeing strike is settled, and planes are shipping again, but the impact of the hurricanes isn't going to just vanish overnight.
ALso, the administration is trying to put pressure on China to (1) limit clothing exports to the US and (2) allow the yuan to float (a floating yuan will make Chinese exports more expensive in the US, and should reduce our trade deficit with China). Maybe I'm a professional pessimist, but this doesn't exactly cheer me up.
Incidentally, what's driving that $20 billion + traded eficit with China??? According to the US Census Buraeu (who tracks this information), we're buying "primarily toys, games, and sporting goods; TV’s and VCR’s; stereo equipment; and computers."
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