A new story from This Morning with Gordon Deal
United States is about States alone For about forty, three percent getting close to half of all trade deficits in the world That means we import way more than others or more. Than we export the United States imports way more. Than it, exports and it does scale it's really just unmatched anywhere else in the world I mean, the next biggest country denied kingdom only had about, one quarter decided the deficit. Is US Canada is the third-biggest did something like one eight the. Size of the US and of course they are smaller, countries which is part of it but when you just think about the sheer dollar volume they nobody in the world news. Creating this sort of imbalanced denied states, is with, the way, it imports so much more that experts speaking with Wall Street Journal economics reporter Josh zoom and he's written a piece entitled. US increasingly large driver of global trade deficits at least according? To. The International, Monetary Fund so is this what President Trump is trying to to address yeah I mean this, is very much one of the things that President Trump is Talked about to be clear, like this, is a, trend that has gotten worse and worse for a number of years so I'm, not saying the I'm not saying imprint Donald. Trump hostage situation and then on yeah on the contrary this? Is. Something that, the president has talked about quite a bit I mean he has Justified some of his, trade actions by saying that their goal is to kind of bring down these deficits now there's a lot. Of skepticism in whether that approachable work because one of the things that dried it seems to drive the large trade deficit from the US is in fact. That the government has been running such enormous fiscal deficit and that's actually something that the White House is kind of taken steps. To make a little bit worse the White House is really kind of. Increased the amount of spending reduce the amount of revenue. Heading towards trillion dollar deficits every single year by their forecasts one of the only way the country can run of, government deficits that large is. By importing more than they export the country can the country can't provide all, the fuel for what they wanna do they have to reach out to other countries for it and so there's an. Expectation that although the president, has tried to target, trade deficit with his trade policies fiscal, policy. There are pushing, another direction it's not very clear whether or not the strategy is. Going to, be successful How, about Germany Japan which both. Operate at a surplus the other way right with lots of exports that's right Now, Germany and Japan Ardy two biggest surprise countries. So they, don't they, don't have, surpluses anywhere, big the US data but they are, the two really big ones now the you know with Japan in particular there's. Kind of a rationale to it which is very old country and it. Kinda needs to save up now too so it's kind of so that its population can can get, through retirement so even though Japan has a very large kind of thought to be a good reason for it but Germany's especially extreme and we know that's. Going to be a big focus actually this week, because President Trump, meeting with the head of the. European Union, he'd meeting with. Him here in Washington on Wednesday and you know it's gonna be a big focus to, fact it didn't Germany and the, European Union are one, of these places to, still have, a very, big, imbalance not. As, big as the? US, but very big amount Josh Wall Street Journal economics, reporter Josh zoom Brin fourteen. Minutes now Now after, the hour, on This, Morning, America's.