The trade deficit, according to the most recent data published by the Commerce Department, has increased by $53.4 billion, or 11.6 percent, over the past year. That figure includes rising trade deficits with both Mexico and China ― two frequent targets of Trump’s trade wrath dating back to his campaign for office. Persistent trade deficits result not only in domestic manufacturing job losses, but an overly financialized economy prone to banking instability. The TPP ― which the vast majority of Congressional Democrats and many hardline conservative Republicans opposed ― almost certainly would have exacerbated the trade deficit. “Chrysler is moving a major plant from Mexico to Michigan; Toyota and Mazda are opening up a plant in Alabama.

Source: Huffington Post January 31, 2018 04:28 UTC