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As President-elect Donald Trump prepares to return to the Oval Office, his proposed trade policies have reignited concerns about the economic impact of tariffs on American consumers. Trump has vowed to impose sweeping tariffs of up to 20% on all imports and a staggering 60% on Chinese goods. While he claims these measures will stimulate […]
In the latest episode of the Peter Schiff Show, Peter dives into the latest on the U.S. economy and presidential race. He highlights the continued surge in Donald Trump’s polling numbers amid economic troubles, pointing to low job openings and increased consumer confidence as signs that Americans expect change. He also critiques the U.S. dependence […]
Peter Schiff left a stark warning at the end of the year: “2024 could be a horrible year for the dollar.” Here are 3 big reasons why Peter thinks inflation might rise even higher this year.
No one is talking about the US trade deficit in the current fiscal year, but it is likely to be another record, bringing with it new rounds of trade sanctions and protectionism. In this article, I explain why the twin deficit hypothesis will apply, bearing in mind a likely budget deficit outturn of $3 trillion […]
The April trade deficit came in at -$74.5B which was the largest trade deficit since October 2022.
The March Trade Deficit decreased for the first time in four months. The total deficit came in at -$64.2B, which is the second smallest deficit since January 2021. This might seem like good news but it’s yet another indication of a weakening economy.
The February Trade Deficit increased for the third month in a row, rising by $1.9 billion. Net Goods came in at -$92.9B with Net Services at $22.4B to reach a total of -$70.5B.
The January Trade Deficit saw a slight increase compared to December, coming in at -$68.3B vs -$67.2B in the prior month. After peaking at -$106B in March of last year, the Trade Deficit has returned to a more stable range between -$60B and -$80B.
The December Trade Deficit increased after a major drop in November. The total came in at $67B which was 10% greater than November’s $61B, but still well below the 6-month high from October of $77B. It is also below the $79B Trade Deficit from December 2021.
The mainstream is optimistic about both the economy and the Fed’s fight against inflation. In his podcast, Peter Schiff took apart the mainstream narrative, explaining that the economy is much weaker than most people realize and the Fed is nowhere near victory in the war on inflation.
The November Trade Deficit saw the first contraction in four months and actually fell to the lowest level since October 2020. This was primarily driven by a collapse in Imported Goods as shown below.
