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US trade deficit widens with China

February 11, 2012 - 00:00 GMT Location: New York

KEYWORDS: trade gap , Census , iron and steel mill products , copper , finished metal shapes

The U.S. trade deficit widened to $48.8 billion in December from $47.1 billion in November, according to data released Friday by the U.S. Census Bureau.

U.S. exports of iron and steel mill products in December rose 5.7 percent to $1.16 billion from $1.09 billion in November and the value of finished metal shapes...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Comment & analysis

EXPERT VIEW FROM ERNST & YOUNG: Horror week favours the brave

Seven days is a long time in the investment world, but last week must have felt longer than most.
COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.