The president's new term in the White House has been dominated by a protectionist agenda aimed at restoring America's domestic manufacturing base and jobs. His primary objective is cutting America's trade deficit - by which the country imports more in value terms, than it...
"Just last month the Congressional Budget Office warned Americans that debt held by the public is on its way to a new record share of the economy in three years. The deficit will be nearly $2 trillion this year and nearly $3 trillion in ten years," Maya MacGuineas, president of the no...
But the survey was concluded before data on Tuesday showed the goods trade deficit surged to an all-time high in March amid record imports, which prompted economists to sharply downgrade their GDP estimates. "The trade shock now looms large, overshadowing everything else that the White House ha...
WASHINGTON (AP) — The U.S. trade deficit surged to a record $74.4 billion in March as an improving U.S. economy drove purchases of imported foreign goods.
The next U.S. president will face fiscal deadlines that loom next year, with one of the first such deadlines to arrive Jan. 1, when the current suspension of the debt limit is set to expire. By then, U.S. lawmakers will be forced to debate another increase or suspension of the debt...
Under either administration, US-China relations will continue to be tense. Both parties share a desire to address the trade deficit and reduce reliance on China, suggesting that risks are relatively similar regardless of the election outcome. However, Trump’s approach may carry a higher level of...
By MARTIN CRUTSINGER, AP Economics Writer WASHINGTON (AP) — The federal government recorded a $74.9 billion deficit in June, a month when the government often runs a surplus, as corporate taxes dropped sharply compared to a year ago. The Treasury Department reported Thursday that the June defi...
Under the “more proactive fiscal policy”, China’s Finance Ministry may have more room to inflate the central government budget deficit, and “a moderately loose monetary policy” suggests the People’s Bank of China (PBOC) may pay more attention to internal balance when making decision on ...
GOP to Obama: Help Us Reduce Deficit; President Urged to Tackle Reform of Entitlements
Former President Trump returns to the White House and the Republican party takes power in both the executive and legislative branch of government. The incoming Trump administration’s policies may have a neutral effect on the US budget deficit and inflation. Higher import tariffs may be on the ta...