Travel Can lead to Narrow the Gap in Record-High Trade Deficit

The Commerce Department announced on Wednesday the U.S. registered its largest-ever trade deficit in 2018-to the tune of $891.2 billion. Additionally, the U.S. merchandise trade deficit with China was a record-breaking $419 billion.  

While ongoing U.S.-China trade talks may result in a narrowing of the merchandise trade gap, there is an industry that continues to run a trade surpluswith China: travel. In 2017, the U.S. had a $29.8 billion travel trade surplus with China.

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