A $1.8 billion rise in manufactured exports in February – the first rise in five months – was swamped by a $3.5 billion jump in imports, sending America’s trade deficit in manufactured goods to its third worst reading ever – $59.7 billion vs. the record of $63.7 billion set in March, 2015.
Since president Obama vowed in January, 2010 to double exports, the overall trade deficit has held fairly steady, thanks only to a slowdown in oil imports. But the trade deficit in manufactured goods continues to worsen exponentially. Here’s the chart: Manf’d Goods Balance of Trade.
Manufactured exports haven’t risen in five years. In February they were actually below the March, 2011 level.
If America were a business and Obama was the CEO, he’d have been fired long ago for such a pathetic performance.