AAM: Deficit Hits $40.4 Billion Amid Voter Concern

The Commerce Department released the latest monthly U.S. trade figures Wednesday. The overall goods and services deficit hit $40.4 billion in March, down by $6.5 billion from February.

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The Commerce Department released the latest monthly U.S. trade figures Wednesday. The overall goods and services deficit hit $40.4 billion in March, down by $6.5 billion from February.

Chinese imports accounted for 44.4 percent of the overall U.S. goods deficit and decreased by $6.2 billion to $26 billion in March.

Said Alliance for American Manufacturing President Scott Paul:

"Trade is a bipartisan issue this election and is one reason why Sen. Bernie Sanders did so well among Democrats in a manufacturing state like Indiana, and why Donald Trump has virtually secured the Republican nomination.

"The majority of voters want fair trade practices that promote American workers. They've seen the devastation that comes when a factory closes due to unfair trade. About 13,500 American steel industry workers are holding pink slips today because of China's massive industrial overcapacity, for example.

"While one month of a shrinking trade deficit is worthy of some celebration, there is still much to be done. Until policy makers get serious about balancing our trade deficit, and insist that the Chinese government honors its overcapacity and trade promises, American workers will continue to struggle."

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