October 2015 Trade Bulletin

Highlights of this month's edition:

• Bilateral trade: U.S. goods deficit in August hits $34.9 billion, the highest monthly deficit this year.

• Xi Jinping’s state visit to the United States: Presidents Obama and Xi announce cooperation in several areas, including agreement that neither government will support cyber-enabled theft of information for commercial advantage; joint initiatives to combat climate change; and narrowed scope in national security reviews of foreign investments. President Xi announces China will begin a national cap-and-trade program in 2017; pledges over $18 billion in total to development assistance, peacekeeping, climate change, and women’s rights initiatives.

• Policy trends in China’s economy: New state-owned enterprise reform plan repeats ongoing reform efforts and lacks clear direction.