Politically sensitive trade gaps with China, Mexico and Canada all increased.
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For instance, Trump is talking about lower trade gaps and a weaker dollar.
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The trade balance of goods swung to a deficit of C$1.82 billion, with larger trade gaps with non-U.
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Many economists say focusing on trade gaps in a bilateral context makes little sense anyway given broader global economic factors.
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Trump has in the past blamed previous U.S. administrations for failing to crack down on China amid widening trade gaps.
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At some point Mr Trump's nationalist supporters may want to see concrete proof of jobs being returned or trade gaps closing.
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After all, Chinese President Xi Jinping met recently with Trump, and the U.S. indicated that China appeared willing to tackle trade gaps.
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Over the same period, the trade gaps with the European Union and China widened at annual rates of 17.5 percent and 11.6 percent, respectively.
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Trade gaps also increased with Mexico and Canada while the two nations continue working with the United States to update the North American Free Trade Agreement.
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Trade gaps also increased with Mexico and Canada while the two nations continue working with the United States to update the North American Free Trade Agreement: http://bit.ly/6900EmzGfD.
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The U.S. reported a $375 billion deficit with China last year, so a 20 percent reduction would still be among the largest trade gaps that the U.S. has with any country.
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The Philippines has been posting large trade gaps since last year, widening its current account deficit and adding pressure on the peso, which has lost 5.3 percent to the U.S. dollar so far this year.
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The Philippines has recorded large trade gaps since last year, widening its current account deficit and adding pressure on the peso, which weakened to 52.02 to the dollar after the central bank projected a wider deficit.
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And that was after President Donald Trump this morning was tweeting about NATO again, berating U.S. allies for not spending more on security in Europe, meanwhile saying that they have massive trade gaps with the United States.
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Canada's goods deficit with countries other than its neighbor to the south widened to a record C$17.63 billion due to wider trade gaps with the European Union and China, though that was tempered by smaller deficits with Japan and Mexico.
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The Philippines has been posting large trade gaps since last year that have led to wide current account deficits and added pressure on the peso, which has fallen this month to its weakest in more than 12 years against the U.S. dollar.
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Our Japanese and Korean deficits have considerable cyclical features, because American companies don't have large manufacturing operations in these countries that are geared toward exports to the U.S. In view of that, it could be possible to make quick progress with Japan and South Korea toward some narrowing of existing trade gaps.
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The road to such a disaster is paved with assumptions that (a) Washington cannot rev up its nearly stagnant economy, (b) that it will continue to run rising budget deficits and a soaring public debt, and (c) that its half-a-trillion dollar annual trade gaps will soon be pushing America's net foreign liabilities toward $10 trillion – and beyond.
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Anybody looking at the magnitude of U.S. trade deficits could have concluded that Washington had an excellent chance of using political leverage to quickly narrow its yawning trade gaps with China and the German-led EU — especially since neither the Chinese nor the Europeans were contesting the need that their systematic and excessive trade surpluses with the U.S. had to be reduced.
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The Republicans' six-year control over the Senate ended in 1986, after numerous issues (the Iran Contra Affair, unpopular support for Reagan's aid to the Nicaragua Contras, the cost of the Star Wars weapons program, farming woes and trade gaps) damaged the Reagan Administration's image. By 1988, however, Reagan was redeemed of these scandals and Republican Vice President George H.W. Bush won the 1988 US Presidential election by a landslide vote.
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