The U.S. September 2012 monthly trade deficit declined by -5.1%, or -$2.25 billion. August's trade deficit was revised down by -$427 million, which gives a 3.1% monthly increase instead of the originally reported 4.1%. While the press touts the lowest monthly trade deficit since December 2010, the reality is September gives the second largest China trade deficit in history.
Robert Cassidy, the Clinton USTR has confessed before on his doubts about the promise of the WTO and the China PNTR, but now he as given more details during a talk at the Economic Policy Institute.
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