Forecast Trend Report by Period
US Treasury Secretary Scott Bessent said the U.S. goods trade deficit excluding semiconductor-related products has narrowed to 1.6% of gross domestic product, the lowest level since the data series began in 1994.
Cointelegraph, a cryptocurrency-focused media outlet, reported on November 13 that Bessent made the remark while saying the goods trade deficit excluding semiconductor-related products had fallen to 1.6% of GDP.
The figure cited by Bessent was calculated by excluding semiconductor-related products from the overall goods trade balance.
Under that measure, the goods trade deficit ratio is at its lowest level in data dating back to 1994.
JH Kim
