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CALIFORNIA | LOCAL
November 23, 1988
The article "U.S. Warned of Superconductor Gap With Japan" (Part I, Nov. 16) vividly points out the principal reason for our trade deficit with Japan. The Pentagon's leading scientific advisers urge an "aggressive billion-dollar effort to explore the military potential" of this new technology. While the U.S. concentrates on the new superconducting materials for the development of military weapons, the intelligent and wily Japanese surge ahead with this new technology in the development of marketable consumer products.
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BUSINESS
January 7, 2014 | By Don Lee
WASHINGTON - U.S. exports rose to a record high in November, helping to shrink the nation's trade deficit to the lowest in four years. The surprisingly positive trade report Tuesday adds to the upbeat outlook for the economy. With net exports stronger than expected, analysts revised higher their economic growth forecast for the fourth quarter, saying it will likely come in at a solid annual rate of about 3%. The Commerce Department said the U.S. trade deficit in goods and services with the rest of the world totaled $34.3 billion in November.
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BUSINESS
December 18, 1992 | From Associated Press
The U.S. trade deficit improved dramatically in October, narrowing to $7.03 billion as American exports climbed to an all-time high, the government said Thursday. The Commerce Department said the October deficit, the lowest since June, was 18% below September's deficit of $8.57 billion and reflected the fact that imports declined slightly while exports rose by $1.5 billion. More than half of the export improvement came in just two categories, civilian aircraft, which rose by $526.
BUSINESS
March 9, 2012 | By Greg Robb
WASHINGTON — The U.S. trade deficit widened sharply in January, driven higher by record imports of autos, capital goods and food, government data showed. The trade gap expanded 4.3% in January to $52.6 billion from $50.4 billion in December, the Commerce Department said Friday. This is the largest monthly differential between imports and exports since October 2008 and came in much bigger than expected. Analysts surveyed by MarketWatch had predicted that the deficit would reach $49 billion.
BUSINESS
February 15, 2008 | From Bloomberg News
The U.S. trade deficit shrank more than forecast in December and showed the first annual drop since 2001 as the faltering economy eroded demand for imported autos and consumer goods. The gap narrowed 6.9% from November to $58.8 billion, the Commerce Department said Thursday. Imports fell 1.1%, and exports rose 1.5%.
BUSINESS
November 13, 2004 | From Reuters
The Federal Reserve's policy-setting panel spent part of its September gathering discussing the implications of the United States' massive trade deficit, according to minutes of the meeting that were disclosed Friday. "Some policymakers noted that domestic demand in several major U.S.
BUSINESS
January 13, 1989 | From Times staff and wire service reports
Economists say the United States continues to suck in large amounts of foreign goods, which they expect drove imports to record levels in November and widened the nation's monthly trade gap. The Commerce Department is due Wednesday to release the volatile trade figures, whose gyrations often roil financial markets. Economists said they believe November exports rose from October but say the gain will be eclipsed by a 3% jump in imports.
BUSINESS
November 22, 2000 | GLENN SOMERVILLE, REUTERS
A growing volume of imported goods during September sent the U.S. trade deficit soaring 15% higher to a record $34.3 billion, the Commerce Department said Tuesday. Analysts said the worsening trade picture, partly caused by the fact that the U.S. economy remains more vigorous than most of its partners, is cause for concern but was not yet alarming.
NEWS
February 18, 2000 | JONATHAN PETERSON, TIMES STAFF WRITER
America's record-setting economy is poised to smash one more record today when the government announces that the nation's colossal addiction to foreign goods drove the trade deficit to about $270 billion last year. It's not an occasion for celebration, although whatever the precise number, "It's going to be big," promised Nariman Behravesh, chief international economist at Standard & Poor's DRI in Lexington, Mass. Yet, remarkably, hardly anyone is complaining.
BUSINESS
January 21, 1998 | Bloomberg News
Mexico posted a wider-than-expected trade deficit for December, as a strong peso and lower oil prices hurt export earnings, while strong economic growth boosted imports of capital and consumer goods. The $722-million deficit, the sixth in a row and the largest in three years, was more than double November's $347-million trade gap.
BUSINESS
September 8, 2011 | Bloomberg
The U.S. trade deficit narrowed more than forecast in July, reaching a three-month low as exports climbed to a record and crude oil imports eased. The gap shrank 13.1 percent, the most since February 2009, to $44.8 billion from a revised $51.6 billion shortfall in June that was smaller than initially reported, Commerce Department figures showed today in Washington. The deficit was less than all projections in a Bloomberg News survey. Exports rose 3.6 percent as companies shipped more capital goods and automobiles to overseas customers.
BUSINESS
August 11, 2011 | By David Pierson, Los Angeles Times
China's trade surplus in July swelled to its highest level in more than two years, led by strong demand from Europe and emerging markets in Asia. But analysts said that's likely to be unsustainable if the global economy continues to weaken. The country's trade surplus rose to $31.5 billion in July, the biggest gap since January 2009 and up from the $22.3-billion surplus registered in June, Beijing said Wednesday. Chinese exports grew an impressive 20.4% from a year earlier, to $175.1 billion, the strongest performance since April.
BUSINESS
June 9, 2011 | Reuters
WASHINGTON — Record U.S. exports in April tempered fears that the economic recovery was running off the rails, even though first-time claims for jobless benefits edged higher last week. A Commerce Department report released Thursday showed the U.S. trade deficit narrowed unexpectedly in April as exports hit a new high and imports from Japan tumbled more than 25% after its earthquake, tsunami and nuclear disaster. The trade gap narrowed 6.7% from March to $43.7 billion even though oil prices hit their highest level since September 2008.
BUSINESS
February 11, 2011 | By Greg Robb
The U.S. trade deficit widened for the first time in four months in December on higher oil imports, the Commerce Department said Friday, but exports continued their upward trend and were nearing record levels. The nation's trade deficit expanded 5.9% in the final month of 2010, to $40.6 billion, the government's data showed. This marked the first increase and the largest trade gap since September, as the U.S. petroleum deficit hit its highest level since October 2008. Excluding petroleum, however, the deficit actually improved.
BUSINESS
January 13, 2011 | By Greg Robb
The U.S. trade deficit narrowed for a fourth straight month in November, government data showed Thursday, confounding economists who had expected an increase. The nation's trade deficit contracted 0.3% to $38.3 billion from a revised $38.4 billion in October, the Commerce Department said, making it the smallest trade gap since January 2010. Analysts surveyed by MarketWatch had expected the deficit to widen to $40.3 billion. The trade deficit shrank 13.9% in October. The last time the deficit shrank four months in a row was in late 2008 and early 2009.
BUSINESS
September 10, 2010 | By Ruth Mantell and Jeffry Bartash
The number of people who filed new claims for unemployment benefits fell in the latest week, reversing a recent run-up that stoked concerns of a weakening job market. Also Thursday, the Commerce Department reported that the U.S. trade deficit dropped sharply in July as exports rose, a positive indicator. Although the economy is still weak and jobs are hard to find, the data are the latest in a string of reports that have eased concerns of a double-dip recession. New unemployment applications shot as high as 504,000 in mid-August, but this week's number is more than 10% lower at 451,000, according to Labor Department data.
BUSINESS
February 21, 2003 | From Reuters
The trade gap hit a new record in December while wholesale inflation surged in January, a surprisingly poor set of economic reports showed Thursday. Separate data revealed a labor market still stuck in the doldrums, with the number of Americans lining up to claim first-time unemployment benefits jumping in the latest week. The U.S. trade gap widened 10.6% to a record $44.2 billion in December as exports floundered and imports surged. The gap trounced expectations of a deficit of $38.8 billion.
BUSINESS
September 13, 2006 | From Reuters
The U.S. trade deficit widened sharply in July to a record $68 billion, as oil import prices and demand for foreign goods and services rose to new highs, a government report showed Tuesday. The trade gap swelled 5% from June for the biggest month-to-month gain in nearly a year, surprising analysts who had expected surging oil prices to only slightly widen the deficit. The trade shortfall was expected to weigh on economic output in the third quarter.
BUSINESS
July 14, 2010 | By Don Lee, Los Angeles Times
In a sign that Americans are persisting in the risky habit of buying more than they sell in the global economy, the U.S. trade deficit jumped unexpectedly in May to the highest level since November 2008. That prompted some analysts to cut back their forecasts of how much the economy would grow in the second quarter and to warn that the underlying imbalance posed a threat to the nation's long-term prosperity and economic strength. "Definitely the weakness in trade through May suggests less momentum in the economy," said Shawn DuBravac, chief economist for the Consumer Electronics Assn.
BUSINESS
June 19, 2010 | By David Pierson, Los Angeles Times
Their demands may seem commonplace: Better pay and better conditions. But the impact of Chinese workers walking off their factory lines in recent weeks could one day reshape China's economic relationship with the United States. Labor unrest at companies including Honda Motor Co., electronics giant Foxconn and, on Friday, a parts supplier for Toyota Motor Corp. has shifted attention in China toward the gap between rich and poor and the sustainability of cheap labor. It also comes as minimum wages are rising in a handful of provinces and cities.
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