Trade Deficit with China Decreases $4 Billion in February
The Bureau of Economic Analysis has reported the trade deficit with China decreased $4.0 billion in February.
Back in January, the U.S. and China signed a Phase One Trade Agreement in which China agreed to import an additional $200 billion worth of U.S. goods and services over 2020-2021. While U.S. exports to China increased $0.2 billion in January, exports decreased $0.3 billion in February. However, the decrease is likely in-part due to the country’s coronavirus-related lockdowns, as Chinese imports decreased $4.2 billion month-to-month.