US-China trade deficit hit a record in 2013
The US-China trade deficit for 2013 hit a record high, as both export and import totals increased, according to the US Department of Commerce.
Exports for the year totaled $122 billion and imports totaled $440.4 billion, up from $110.5 billion and $425.6 billion in 2012, respectively, according to the figures released. Exports increased primarily in civilian aircraft, engines, and equipment, and imports increased primarily in cell phones and household goods.
Last year the goods deficit with China, with whom the US has had the largest trading deficit every year since 2000, increased to $318.4 billion from $315.1 billion in 2012.
The US exported $13.1 billion to China in December, a drop from $13.2 billion in November. (Photo 1)