November 10, 2005 – The U.S. trade deficit with China jumped 8.9 percent in September to a record 20.1 billion. The overall deficit with China for the year is on pace to hit $200 billion, shattering last years record $162 billion deficit.
China, meanwhile, saw their trade surplus grow $12 billion in October to push their surplus for the year to $80.4 billion.
The staggering numbers should serve as a reminder to lawmakers something needs to be done to control China’s currency manipulation and unfair trade practices.
The overall U.S. trade deficit also hit a record in September, jumping 11.2 percent to $66.1 billion and putting the country on pace to record a record $706.4 billion trade deficit this year.
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