Here is hoping that Mitt Romney does do something about China. There are many doubters on that; But I am holding out hope.
The Department of Commerce reported:
[T]otal August exports of $181.3 billion and imports of $225.5 billion resulted in a goods and services deficit of $44.2 billion, up from $42.5 billion in July, revised. August exports were $1.9 billion less than July exports of $183.2 billion. August imports were $0.2 billion less than July imports of $225.7 billion.
June was revised from $42.0 billion. The trade deficit was larger than the consensus forecast of $44.0 billion.
The first graph shows the monthly U.S. exports and imports in dollars through July 2012.
via Calculated Risk: Trade Deficit increased in August to $44.2 Billion.
Take a look at the charts:
Again, I say; we’re getting hosed. It is time for a trade reform.