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Trade Deficit Upside Surprise by $18bn
Goods trade deficit larger than before the election. So much for tariffs reducing goods imports relative to pre tariff. Figure 1: Goods trade balance, BoP basis (black), Census basis (red), Bloomberg consensus (blue +), all in mn.$ s.a. Source: BEA via FRED, Census, and author’s calculations. Goods imports are rising. Figure 2: Goods imports (black), […]
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