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Saturday, July 05, 2025

The trade gap increased 18.7% to $71.5 billion in May, the Commerce Department's Bureau of Economic Analysis said on Thursday.

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The US trade deficit widened more than expected in May, government data showed Thursday, with both imports and exports declining as US President Donald Trump's tariffs sent shock waves through the economy and snagged supply chains. u.afp.com/Sfqb

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-- AFP News Agency (@en.afp.com) Jul 3, 2025 at 9:50 AM

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More from the article ...

... Data for April was revised to show the trade deficit narrowed to $60.3 billion rather than the previously reported $61.6 billion. Economists polled by Reuters forecast the deficit would rise to $71.0 billion.

The trade deficit chopped off a record 4.61 percentage points from gross domestic product in the first quarter, accounting for much of the 0.5% annualized pace of decline in GDP during that period. A reversal is expected in the second quarter, though the anticipated boost from trade is likely to be partially offset by tepid consumer spending.

President Donald Trump's sweeping tariffs, which have led businesses and households to front-load imports and goods purchases to avoid higher prices from duties, have muddled the economic picture. Economists warned it could take time for the tariff-related distortions to wash out of the economic data.

The goods trade deficit increased 13.0% to $97.5 billion in May. Imports dipped 0.1% to $350.5 billion. Goods imports also eased 0.1% to $277.7 billion. Consumer goods imports decreased by $4.0 billion, pulled down by declines in other textile apparel and household goods as well as toys, games and sporting goods. But imports of pharmaceutical preparations increased. ...



#1 | Posted by LampLighter at 2025-07-03 08:20 PM | Reply

WHHHHOOOOOOOOOOOOOOOOOOOOOPPPPS!!

#2 | Posted by LegallyYourDead at 2025-07-03 08:25 PM | Reply | Funny: 1

Donald, of course, promised to end this.

#3 | Posted by Zed at 2025-07-04 10:23 AM | Reply

While I view one month's data as just that, one month's data and not a trend, this is not a good data point.

Exports down?

Pres Trump has been trying to get other countries to buy US goods.

So, while his tariffs may have slowed imports, what effect are the tariffs having on exports?


#4 | Posted by LampLighter at 2025-07-05 05:46 PM | Reply

trump doing what he has always been successful at-destroying businesses, only this time it's the business of the U.S. economy.

#5 | Posted by Yodagirl at 2025-07-05 06:34 PM | Reply

@#5 ... rump doing what he has always been successful at-destroying businesses, only this time it's the business of the U.S. economy. ...

His six bankruptcies?

How did his casinos do?

How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions (2016)
www.nytimes.com

... The Trump Plaza Casino and Hotel is now closed, its windows clouded over by sea salt. Only a faint outline of the gold letters spelling out T-R-U-M-P remains visible on the exterior of what was once this city's premier casino.

Not far away, the long-failing Trump Marina Hotel Casino was sold at a major loss five years ago and is now known as the Golden Nugget.

At the nearly deserted eastern end of the boardwalk, the Trump Taj Mahal, now under new ownership, is all that remains of the casino empire Donald J. Trump assembled here more than a quarter-century ago. Years of neglect show: The carpets are frayed and dust-coated chandeliers dangle above the few customers there to play the penny slot machines.

On the presidential campaign trail, Mr. Trump, the presumptive Republican nominee, often boasts of his success in Atlantic City, of how he outwitted the Wall Street firms that financed his casinos and rode the value of his name to riches. A central argument of his candidacy is that he would bring the same business prowess to the Oval Office, doing for America what he did for his companies.

"Atlantic City fueled a lot of growth for me," Mr. Trump said in an interview in May, summing up his 25-year history here. "The money I took out of there was incredible."

His audacious personality and opulent properties brought attention " and countless players " to Atlantic City as it sought to overtake Las Vegas as the country's gambling capital.

But a close examination of regulatory reviews, court records and security filings by The New York Times leaves little doubt that Mr. Trump's casino business was a protracted failure. ...

[emphasis mine]


#6 | Posted by LampLighter at 2025-07-05 07:36 PM | Reply

Pres Trump bankrupted his casinos?

From what I understand, the house sets the odds in a casino so that the casino remains profitable.

So....

Pres Trump was not able to understand that basic rule of casino ownership?


#7 | Posted by LampLighter at 2025-07-05 07:39 PM | Reply

The dollar is at the lowest rate since 1973, but nothing to see here folks.

#8 | Posted by Jaspar at 2025-07-05 09:07 PM | Reply

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