Washington, D.C. – The United States goods and services trade deficit lowered to $64.2 billion in March, decreasing $6.4 billion from February’s deficit of $70.6 billion, the U.S. Census Bureau reported Thursday. The trade deficit in goods with China decreased $2.4 billion to $16.6 billion.
Alliance for American Manufacturing Scott Paul said:
“The shrinking trade deficit, particularly with China, is welcome news, but we still have a long way to go. We must aggressively seek out alternatives to sourcing from China for strategic goods, and that effort must start right here. That’s why it would be an enormous mistake to weaken or remove the Made in America tax credits and procurement requirements for clean energy manufacturing and infrastructure.
“There’s no doubt that the U.S. must continue to de-risk supply chains and strengthen our domestic capabilities to lead the industries of the future.”