October 12, 2006 – The U.S. trade deficit with China hit a record $22 billion in August, a 15 percent increase from July. China, meanwhile, posted their second-biggest trade surplus ever at $15.3 billion in September. Despite the growing trade gap with China and continued U.S. job loss, the U.S. has yet to take significant action to put a stop to China’s unfair trade practices.
The overall U.S. trade deficit also jumped 2.7 percent to a record $69.86 billion in August. The trade deficit for the years stands at $522 billion, putting the U.S. on pace to surpass last year’s record $716 billion deficit.
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