June 3, 2016
Contact: Paola Masman, Media Director
202-688-5145 ext 2, [email protected]
Washington ~ The federal government announced that the US trade deficit worsened yet again in April 2016. Policy makers who block efforts to fix currency manipulation and other trade cheating continue to cause poor US trade performance, job losses and manufacturing shrinkage. Here are the relevant points from the report, released today by the Bureau of Economic Analysis.
1. Trade deficit worsened: “The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $37.4 billion in April, up $1.9 billion from $35.5 billion in March, revised. ”
2. Goods Exports Increased over March Numbers: “Exports of goods increased $2.9 billion to $120.1 billion in April.”
3. But Goods Imports Increased More: “Imports of goods increased $4.3 billion to $178.9 billion in April.”
“This data validates voters rejection of the establishment-supported trade agenda which causes America to lose,” said Michael Stumo, CEO of the Coalition for a Prosperous America. “Congress need to set a national goal to produce more in the US with American workers, to supply a larger proportion of our domestic market and to export at least as much as we import.”
The Coalition for a Prosperous America is a nonprofit organization representing the interests of 2.7 million households through our agricultural, manufacturing and labor members.