Brief AAM Statement on Latest Monthly Trade Figures
The monthly U.S. trade deficit fell in October 2010 to $38.71 billion. The U.S. goods deficit with China declined slightly to $25.52 billion.
Said Alliance for American Manufacturing (AAM) Executive Director Scott Paul:
"These continuing deficits are still too high. And every month that we see such a massive bilateral imbalance with China means more of our manufacturing jobs being shipped overseas.
"We welcome a growth in U.S. exports, but the fundamental imbalances caused by foreign dumping, subsidies, and currency manipulation pose formidable, ongoing problems. However, there's still time for the Senate to act and pass the currency legislation that already received strong bipartisan support in the House. There's simply no excuse for further delays."