November 2015 Trade Bulletin

Highlights of this Month’s Edition

• Bilateral trade: In September, the U.S. deficit in goods trade with China hit $36.3 billion, the highest monthly deficit on record; quarterly service imports from China reach highest level on record, weakening the U.S. trade in services surplus.

• Policy trends in China’s economy: Fifth Plenum sets course for the 13th Five-Year Plan; President Xi’s state visit to the UK nets expanded international role for the RMB.

• Quarterly review of China’s economy: China’s GDP grew 6.9 percent in third quarter; government moves to support the economy.

• Sector spotlight – Aluminum: Chinese subsidies and preferential policies have created overcapacity that has lowered global prices and eroded the profitability of the U.S. aluminum sector.