$300 Billion Trade Deficit with China for 2011 is Biggest Ever Between Two Countries; Consumer Goods and Automobiles Accounts for 82% of Overall Trade Gap

In all the hoopla surrounding the Republican presidential primaries, the release of President Obama’s 2013 budget, the Grammy’s, and the tragic passing of Whitney Houston, a truly significant report about America’s relentlessly growing trade deficit has been given very little media attention and is in danger of going unnoticed by the American public. On Friday, February 10th, the U.S. Department of Commerce announced that the U.S. trade deficit for goods and services was $558 billion in 2011, a 12% increase over the trade deficit for all of 2010. Over half of the U.S. trade deficit (53%) was due to a $295.5 billion trade deficit with China, a staggering sum which stands as the largest trade deficit between two countries in history.

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