(CNSNews.com) - The U.S. merchandise trade deficit with China set a record for the month of January, hitting $31,304,400,000, according to data released today by the Census Bureau.
During January, the United States exported $10,071,900,000 in goods to China but imported $41,376,300,000 in goods from China.
Prior to this year, the largest merchandise trade deficit the United States has ever run with China in the month of January was the $29,821,870,000 deficit (in constant 2017 dollars) the U.S. ran with China in the first month of 2015.
In that year, the U.S. went on to run a record annual merchandise trade deficit with China of $376,192,000,000 in 2017 dollars. In 2016, the merchandise trade deficit dropped to $351,132,830,000 in 2017 dollars.
This year was the first time the U.S. merchandise trade deficit with China topped $30 billion in the month of January.
The $31,304,400,000 merchandise trade deficit with China in this January was approximately 531 times larger than the $58,900,000 merchandise trade deficit (in constant 2017 dollars) the U.S. ran with China in 1985.
Values were adjusted to 2017 dollars using the Bureau of Labor Statistics inflation calculator.