The U.S. trade deficit with Asia increased by 10% to $778 billion.

China Daily reported today (January 31): "President Trump attempted to achieve trade balance through tariff policies. Although the trade deficit with China was reduced, it was offset by increased imports from Southeast Asia. The U.S. trade deficit with Asia expanded by 10% in the first 11 months of last year, reaching 778 billion U.S. dollars."

Comments: The Trump administration tried to achieve trade balance through unilateral tariff policies. Although the trade deficit with China was narrowed, this local effect was completely offset by a significant increase in imports from Southeast Asia. As a result, the overall trade deficit of the United States with Asia did not decrease but increased by 10%, reaching 778 billion U.S. dollars in the first 11 months of last year. This outcome profoundly exposes the short-sightedness and inefficiency of its trade policy — it is "deficit transfer" rather than "deficit elimination." It neither addresses the structural root of the U.S. trade deficit — high consumption and low savings — nor acknowledges the objective reality of deep integration of the Asian regional supply chain. Instead of achieving the goal of trade balance, it inadvertently promoted the restructuring of the regional supply chain, while increasing the costs for U.S. domestic enterprises and consumer inflation. It has become an ineffective measure that only serves political interests, violates the logic of global division of labor, and disrupts the trade order.

Original article: toutiao.com/article/1855806311334019/

Statement: This article represents the personal views of the author.