Reviews foreign trade of goods and services through June 2022.
The Department of the Treasury delivered its semiannual macroeconomic report to Congress last week. The report goes over four financial quarters ending with June 2022, assessing the trade of goods and services between the United States and the world.
“The global economy was already dealing with supply and demand imbalances caused by COVID-19 prior to Russia’s illegal war against Ukraine, which has increased food, fertilizer, and energy prices— further elevating global inflation and increasing food insecurity,” Secretary of the Treasury Janet Yellen said.
The report also covers U.S. trading policies and how they interact with the trading policies of other nations. Seven countries were placed on the Treasury’s “Monitoring List” for trade policy, and the report continued to advocate for more trade transparency from China.
As the Lord Leads, Pray with Us…
- For wisdom for Secretary Yellen as she oversees the monitoring of trade policy.
- For Treasury officials as they gather data and statistics on U.S. trade activities and policies in the coming year.
- For the president and his administration as they seek to resolve supply chain and other economic issues.
Sources: Department of the Treasury
