Reuters headline 4/7/2021:
U.S. trade deficit hits record high as economy gains speed
“The trade deficit jumped 4.8% to a record $71.1 billion in February, the Commerce Department said on Wednesday. Economists polled by Reuters had forecast a $70.5 billion deficit. The goods trade gap was also the highest on record. Exports dropped 2.6% to $187.3 billion. Exports of goods tumbled 3.5% to $131.1 billion, likely hurt by unseasonably cold weather across large parts of the country. The decline was led by shipments of capital goods, which decreased $2.5 billion. Consumer goods exports fell as did those of motor vehicles, parts and engines. There were also fewer food exports.”
Ray Mullaney asks: How long can a country be a net importer of the necessities of life before that nation become a fill in the blank of the export nations?”
