Most news sources today will report the trade numbers that came out yesterday showing a record trade deficit. As usual, however, it only tells half the story. Oil prices drove up the value of imports, a fact noted by the Commerce Department in issuing its report. However, there is also some good news in here for manufacturers.
For the tenth consecutive month, manufacturing exports rose faster than imports. That’s a good sign. We need more trade agreements (Lou, cover your ears) in order to open more markets to US-made goods. We are the best manufacturers in the world, can compete with the best, need as many markets for our stuff as we can find. Open the markets, we say, and we’ll take it from there.
We present this just FYI, a little news you won’t likely read in the papers today, just doing our part.
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