The U.S. trade deficit with the European Union in the first half of the year rose more than 11 percent when compared to a year earlier. Although Trump has complained about the EU’s trade surplus with the U.S. it has risen under his watch. Bloomberg reported that while America’s trade deficit with the E.U.was just 18.7 billion euros 10 years ago, it was 75 billion euros, or $83 billion, in the first half of 2019. The figures illuminate the tension between the president’s rhetoric on trade and long-running U.S. trends. Despite Trump’s focus on trade deficits, the U.S. has operated at a global deficit for more than 40 years. The gap between the number of products the exported to, and imported from, the EU has significantly widened in recent years. Trump’s has sought to diminish the U.S. trade deficit with China — a major factor motivating tensions between Washington and Beijing. At the same time, America’s total goods trade deficit rose. And exports to China decreased more than the imports did in the first half of this year. As part of his protectionist measures, Trump has railed against EU trading policies, claiming they are unfair to the U.S. He has… Read full this story
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