Press Release

Commerce Secretary Gutierrez Statement on August Trade Deficit Figures

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez today released the following statement on the August U.S. International Trade in Goods and Services report issued today.

"The U.S. economy continues to be the main engine of global economic growth. Today's numbers show that both imports and exports are growing at about the same rate. Merchandise exports increased $2.5 billion, and petroleum imports increased $1.0 billion reflecting higher prices over the summer.

"Next month I will be leading a U.S. business delegation to China and my focus will be to help expand U.S. access to the Chinese market. Overall exports have expanded by $2.7 billion in August, and they are booming in China at $41.9 billion in 2005, an increase of 20.7 percent over 2004. Through July 2006, U.S. exports to China have grown 33.8 percent over the same period last year."