US trade deficits not sign of its 'economic surrender'

The latest trade deficit figures would seem to have provided fresh ammunition for US President Donald Trump to translate into action his threats of trade remedy measures against countries with which the US has trade deficits.

The US Commerce Department reported on Tuesday that overall the US deficit in goods and services surged by 12.1 percent from 2016 to reach $566 billion in 2017, the highest level in nine years.

And the country's deficit of goods with China rose by 8 percent to hit $375.2 billion last year, which is widely expected to usher in another round of aggressive trade remedy measures by the Trump administration, since it has repeatedly vowed it would narrow the trade gap with China.