The US trade deficit with Asia is widening, and tariff negotiations are deadlocked

Since April this year, the United States has been threatening tariffs on all countries. The global economic turmoil is unbearable, and trade protectionism and anti globalization are intensifying.

The United States has been causing trouble, but has not achieved much. On the contrary, its trade deficit is getting bigger and bigger.

According to the recently released data from the United States for May and June, the trade deficit has not only not narrowed, but has also widened.

The US trade deficit is widening

As importers intensify their stockpiling before the end of Trump's "equal" tariff exemption period, the US trade deficit with Asia is widening. Vietnam, Taiwan, China, and Thailand's exports to the United States hit a record high in May, while South Korea's exports to the United States last month were close to the highest level in history and increased in early June.

It can be said that this wave of Americans is completely a self inflicted loss of one thousand and an enemy inflicted injury of eight hundred. The worse it gets, the worse it may be.

Deadlock in US Asia tariff negotiations

In addition, the United States and some Asian countries are also unclear in trade negotiations.

The progress of tariff negotiations between the United States and its major trading partners in Asia has been slow or even deadlocked. India has rejected the demand from the United States for low tariffs on agricultural products such as corn and soybeans to enter the Indian market due to concerns about adverse effects on farmers and concerns about genetically modified foods in the United States; No agreement has been reached between Japan and the United States, and Japan's chief trade negotiator, Ryo Akazawa, is preparing to depart for negotiations in the United States as early as June 26th; On the afternoon of the 23rd local time in the United States, South Korean Ministry of Industry, Trade and Resources' Minister of Trade Negotiations, Rohan Kyu, held talks with US Secretary of Commerce Lutnick and US Trade Representative Greer, with automobiles, steel, and other major topics of discussion.

For several major trading countries, the progress of relevant negotiations can be said to be too slow. The 3-month deadline is approaching soon, and there will be no results, right.

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