In One Chart: China and these 10 countries account for most of the trade deficit, now at a 9-year high

WASHINGTON (MarketWatch) — President Trump wants to reduce chronic U.S. trade deficits, but it’s a lot easier said than done. The U.S. hasn’t run a surplus since 1975.

In Trump’s first year in office, the trade deficit soared 12% to a nine-year high of $566 billion. Higher oil prices were one chief cause, but an improved U.S. economy is an even bigger reason. Americans buy more imports during good times.

That means plenty of foreign cars. And lots of consumer electronics such as cell phones, TVs, and computers — they are mostly made outside the U.S.

In the chart above are the 10 countries with which the U.S.

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