Dr. Peter Morici: US trade deficit slows recovery, jobs creation
Jun 9th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Dr. Peter Morici: On Thursday, the US Commerce Department is expected to report the deficit on international trade in goods and services was $49.0bn in April, up from $48.2bn in March. Oil and trade with China account for virtually the entire shortfall, and are a major drag on economic recovery and threat to President Obama’s re-election.