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U.S. Trade Deficit Hits Record High Ahead of Tariff Impact
362 sats \ 5 comments \ @jakoyoh629 6 May econ
While one of the stated goals of the Trump administration’s tariff policy is to close the U.S. trade deficit, the initial effect of the tariff offensive was exactly the opposite. As U.S. companies stocked up on goods and materials sourced abroad in anticipation of higher tariffs, imports of goods increased at an annual rate of 51 percent in the first quarter of 2025, resulting in the largest-ever trade deficit even after accounting for inflation.
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https://www.statista.com/chart/34405/us-net-exports-of-goods-and-services/
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50 sats \ 1 reply \ @Undisciplined 6 May
It's good irony, but shifting consumption should balance out over time.
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34 sats \ 0 replies \ @jakoyoh629 OP 6 May
Couldn't tell ya what exactly, but somethin's gotta shift to turn this around. Time'll pass and the politicians'll do their thing, I suppose.
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26 sats \ 0 replies \ @Hodl117 6 May
To the economists... In a hard money economy, generally you want a trade surplus (money from other countries flowing in, making locals richer and able to spend more money outside the country, balancing out the surplus), and in a soft money economy, you want a trade deficit (the money flowing out, thus avoiding local price inflation while getting goods from other countries for cheap), correct? Or does it really matter, as long as all parties are benefiting from the trade? Or am I completely wrong?
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0 sats \ 0 replies \ @geeknik 6 May
Tariffs: The economic equivalent of yelling 'FIRE' in a crowded import warehouse. 🚨📦
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0 sats \ 0 replies \ @Dkryptoenth 6 May
Wow
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