Agricultural Exports Plunge, Trump Accuses China of Meddling in US Elections

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Published : September 28th, 2018
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Category : Editorials

The census dept reports the trade deficit widened by 5.3% with ag exports down 9.5%. Trump was already annoyed.

The Census Bureau advance report on International Trade in Goods shows the international trade deficit was $75.8 billion in August, up $3.8 billion from $72.0 billion in July.

  • Exports of goods for August were $137.9 billion, $2.3 billion less than July exports.
  • Imports of goods for August were $213.7 billion, $1.5 billion more than July imports.

International Trade Details

Year-over-year exports rose more than imports but nearly every other aspect of the report looks miserable.

Agricultural exports are down 9.5% from July and a whopping 15.2% since June.

China Places Ad in Des Moines Iowa Register

Striking back at the agricultural belt, China took out ads in the Des Moines Register.

Trump Accuses China of Meddling in US Elections

Twice Wednesday, President Donald Trump pointed to a Chinese government-backed advertising insert in the Des Moines Register as evidence Beijing is trying to interfere in the U.S. midterm elections.

“Regrettably, we found that China has been attempting to interfere in our upcoming 2018 election, coming up in November, against my administration,” Trump said at a meeting of the United Nations Security Council on Wednesday.

Our Farmers Will Make a Fortune

"Our farmers will make a fortune when this is over."

When will that be?

Today's report will have Trump howling even louder. Agricultural exports are way down.

Expect more foolish retaliation by both sides.

 

Source : moneymaven.io
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Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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