The US trade deficit for the first year exceeded $ 1 trillion for the first time, setting a new record high.
This is because domestic economic activities have become active and imports from China and other countries have increased significantly.
According to the trade statistics released by the U.S. Department of Commerce on the 8th, the trade deficit of goods excluding services for the last year increased by 18.3% from the previous year to $ 1,090.6 billion, or about 125 trillion yen in Japanese yen. The deficit exceeded $ 1 trillion for the first time and reached a record high.
With the spread of the new coronavirus vaccine and large-scale economic measures, economic activities in the United States became active, and imports increased significantly in a wide range of fields such as personal computers and furniture.
China has the largest trade deficit by country, accounting for one-third of the total deficit.
During the previous Trump administration, the United States has reduced its trade deficit with China through tariffs of up to 25% and agreements to expand exports, but last year it widened for the first time in three years and confronted China. It can be seen that the American people's lives are supported by Chinese products even though the tariffs are getting fierce.
The Biden administration is advancing a policy of giving preferential treatment to domestic products, emphasizing the workers who are the support base, but the widening trade deficit will strengthen the protectionist tendency toward the mid-term elections in the fall. There seems to be a possibility.