Massive US trade gap concerned Fed panel
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WASHINGTON -- The Federal Reserve's policy-setting panel spent part of its September gathering discussing the implications of the massive US trade gap, according to minutes of the meeting that were disclosed yesterday.
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U.S. Treasury Secretary John Snow said  on Tuesday the U.S. trade deficit with China was too large,  less than a week after the government reported that the overall  U.S. trade gap hit its second-highest monthly level ever in  July.
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The trade deficit jumped to the second-highest level in history as surging demand for foreign oil swamped a small gain in U.S. exports, the government reported Thursday. America's trade gap with China hit an all-time high as retailers stocked up on cell phones, toys and televisions in preparation for Christmas sales.
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The U.S. trade deficit widened   sharply in July to a record $68 billion, as oil import prices,   and demand for foreign goods and services rose to new highs, a   government report showed on Tuesday.
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The US trade deficit hit a record high of $68bn in July, due to the rising cost of oil imports, official figures show.
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U.S. Federal Reserve Chairman Alan  Greenspan said on Friday the United States should cut its  budget gap to foster a more balanced pattern of global trade  and avoid painful economic consequences.
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The U.S. trade gap widened in May as higher oil prices and a rising tide of Chinese goods pushed imports to a record, overshadowing a strong export performance, a government report showed on Thursday.
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The annual US trade deficit rises to a new record of $763.6bn, hit by higher oil prices and surging Chinese imports.
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US Federal Reserve chief Alan Greenspan has warned that the deficit in US trade with the rest of the world cannot be sustained indefinitely.
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The U.S. trade gap widened in May as  higher oil prices and a rising tide of Chinese goods pushed  imports to a record, overshadowing a strong export performance,  a government report showed on Thursday.
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The US trade deficit ballooned to a record high of $617.7 billion last year, pushed by soaring oil prices and Americans' insatiable appetite for everything foreign, from cars to toys and food.
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The U.S. current account trade gap  widened to a record $164.71 billion in the third quarter, data  showed on Thursday. The deficit, the broadest measure of U.S.  trade, was not as great as feared, spurring a dollar rally.
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The weak U.S. dollar and a huge trade deficit eventually may cause dire economic problems for the country, Federal Reserve Chairman Alan Greenspan warned Friday.
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The gap between US exports and imports hits an all-time high of $671.7bn (Â£484bn) last year, official figures show.
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Swollen trade deficits eventually could threaten the economy by souring foreign appetites to invest in the United States, Federal Reserve Chairman Alan Greenspan warned Friday. The dollar, already sliding, took another nosedive after his remarks.
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Federal Reserve chief Alan Greenspan says the US trade deficit cannot be sustained indefinitely.
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The US trade deficit jumped to the second-highest level in history as surging demand for foreign oil swamped a small gain in US exports, the government reported.