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U.S. Factories Continue to Lose in Trade Battle
August 26,
2014 by in Economic News, Industry 
America's shale boom has raised hopes of a revival in U.S. manufacturing, in part fueled by cheaper energy. But U.S. factories still are losing ground to rivals in Asia and Europe.
Much of the problem stems from steel, trucks, car parts, industrial machinery and furniture.
The U.S. deficit on trade in goods swelled in the first half to $371.59 billion from $354.64 a year earlier. Imports rose 3.3%, while exports increased 2.6%. Manufactured exports, excluding petroleum and coal, rose just 0.8%—far below last year's modest 2.1% gain.
Without a strong, sustainable increase in exports, U.S. factories are unlikely to have the kind of resurgence forecast by some pundits. But achieving that growth is difficult as China and other countries have pursued aggressive export strategies and the U.S. has lost manufacturing skills and suppliers after shifting production overseas. China isn't the only country winning the battle. U.S. trade gaps with the three largest members of the Euro zone—Germany, France and Italy—all increased in the first half.
Read Entire Story Source: Yahoo! Finance