Trade Deficit Leaps 24.4 percent, Highest on Record Excluding Tariff Distortions
Tariffs did not and will not fix the trade deficit.
Source: Mish Talk
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DW NOTE
The deficit widened because oil imports cost more and industrial exports fell — neither of which tariffs address. You cannot tariff your way out of a supply shock that has removed 8 mb/d from global markets since March, nor can you tariff your way into competitiveness when your factories are running on fuel that costs 40% more than it did six months ago.