Skip to content

US Trade Deficit Drops for First Time in 6 Years

Navy Carries Out Test Flight of Jets Adapted for Autonomy

The military’s vision of the unmanned wingman—dogged, unflappable, and ready to make the ultimate sacrifice—has moved a step closer with the successful test flight of two autonomously piloted Navy jets. Boeing confirmed on Jan. 5 that the U.S. Navy simultaneously flew two autonomously piloted carrier jets, using a third human-piloted jet as a mission controller. The EA-18G Growler jets used in the test are electronic warfare aircraft—modified versions of the F-18. Over the course of four flights, 21 demonstration missions were completed, according to Boeing. The test marks another step toward a warfare strategy that involves greater numbers of autonomous platforms in the air, land, and sea. Autonomous jets, tanks, helicopters, and submarines not only take away the risk to human life but are also potentially cheaper and simpler to make.…

US Trade Deficit Drops for First Time in 6 Years

The U.S. trade deficit fell for the first time in six years in 2019 as President Donald Trump hammered China with import taxes.

The Commerce Department said on Feb. 5 that the gap between what the United States sells and what it buys abroad fell 1.7 percent last year to $616.8 billion. U.S. exports fell 0.1 percent to $2.5 trillion. But imports fell more, slipping 0.4 percent to $3.1 trillion. Imports of crude oil plunged 19.3 percent to $126.6 billion.

The deficit in the trade of goods with China narrowed last year by 17.6 percent to $345.6 billion. Trump has imposed tariffs on $360 billion worth of Chinese imports in a battle over Beijing鈥檚 aggressive drive to challenge American technological dominance. The world鈥檚 two biggest economies reached an interim trade deal last month, and Trump dropped plans to extend the tariffs to another $160 billion in Chinese goods.

US Trade Deficit Drops for First Time in 6 Years Chinese Vice Premier Liu He (L) and President Donald Trump during the signing of phase one of a trade deal, surrounded by officials, in the East Room of the White House in Washington on Jan. 15, 2020. (Charlotte Cuthbertson/The Epoch Times)

But goods trade gap with Mexico rose 26.2 percent last year to a record $101.8 billion. The goods deficit with the European Union also hit a record, $177.9 billion鈥攗p 5.5 percent from 2018.

Overall, the United States posted a $866 billion deficit in the trade of goods such as cars and appliances, down from $887.3 billion in 2018. But it ran a $249.2 billion surplus in the trade of services such as tourism and banking, down from $260 billion in 2018.

Trump campaigned on a promise to reduce America鈥檚 massive and persistent trade deficits, which he sees as a sign of economic weakness and the result of lopsided trade deals that put U.S. exporters at a disadvantage. He has negotiated a new trade agreement with Canada and Mexico that he says will bring more balance to trade in North America.

US Trade Deficit Drops for First Time in 6 Years President Donald Trump holds up the signed United States鈥揗exico鈥揅anada Agreement, known as USMCA, during a ceremony on the South Lawn of the White House on Jan. 29, 2020. (Charlotte Cuthbertson/The Epoch Times)

In December, the overall trade gap widened 11.9 percent to $48.9 billion as exports rose 0.8 percent to $209.6 billion and imports climbed 2.7 percent to $258.5 billion.

By Paul Wiseman

This article is from the Internet:US Trade Deficit Drops for First Time in 6 Years

Person Suspected of Having Coronavirus in New York City Tests Negative

One of three people suspected of having the novel (new) coronavirus in New York City does not have the virus, tests confirmed. The person is hospitalized at NYC Health + Hospitals/Bellevue in the borough of Manhattan. “The first person who met the criteria to have samples sent to the Centers for Disease Control and Prevention (CDC) was found not to have the 2019 novel coronavirus,” said city Health Commissioner Dr. Oxiris Barbot in a statement. “The response and care the patient received reflects how well the systems we have in place are working. We want to thank everyone for all they did, and we will keep New Yorkers informed as the situation develops.” “We’re relieved to hear that the person in question does not have the novel coronavirus,” added Mayor Bill…