U.S. Trade Deficit with China Will Exceed a Quarter of a Trillion Dollars in 2007

Press Release

U.S. Trade Deficit with China Will Exceed a Quarter of a Trillion Dollars in 2007
Trade deficit statistics released this morning by the Department of Commerce showed a continued weakening of the U.S. trade position with China, according to Congresswoman Marcy Kaptur.

"The December figures confirm that our trade deficit with China will climb by more than 10 percent this year," Kaptur said.

"The $18.8 billion December deficit with Communist China means our annual deficit with that nation will exceed a quarter of a trillion dollars for the first time in history. That means lost jobs and lost wealth in America."

The Commerce Department reported this morning that the U.S. trade deficit in goods and services for December declined to $58.8 billion, compared to $63.1 billion in November due primarily to lower oil prices.

Congresswoman Kaptur noted a slight decline in the monthly trade deficit with China in December 2007 compared to the same period a year ago.

"December was the only month this year when our trade deficit with China was lower than the corresponding month in 2006," she said.

The deficit with China in December was $18.8 billion, compared to $18.9 billion for the same period a year ago.

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