The U.S. Department of Commerce released the latest monthly U.S. trade figures:
- The overall U.S. international goods and services trade deficit declined in March to $40.4 billion, from $41.9 billion in February, revised.
- The U.S. goods deficit with China fell slightly in March to $20.4 billion, from $20.9 billion in February.
- The U.S. goods deficit with Japan rose in March to $5.9 billion, from $5.3 billion in February.
- The U.S. goods deficit with South Korea rose in March to $1.3 billion, from $1.0 billion in February.
Said Alliance for American Manufacturing (AAM) President Scott Paul: "Every dollar’s worth of trade deficit serves as a drag on economic growth, which means fewer job opportunities for American workers. A smart trade strategy starts with trade enforcement.
"If our workers and businesses have a level playing field here at home as well as in markets abroad, we will grow jobs. I was in Lorain, Ohio on Monday, where hundreds of jobs are in jeopardy because of dumped steel pipe from South Korea. Unless the Commerce Department makes the right choice in July, the American pipe and tube industry could suffer. Enforcing trade laws creates jobs in America."
The Alliance for American Manufacturing (AAM) is a non-profit, non-partisan partnership formed in 2007 by some of America’s leading manufacturers and the United Steelworkers. Their mission is to strengthen American manufacturing and create new private-sector jobs through smart public policies.