Weaker Dollar Has Not Slowed Imports, N.Y. Times Says

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weaker dollar has not slowed imports into the United States, the New York Times reported Friday.

While imports, in theory, should decline or level off in response to a dollar that does not have as much value against other world currencies, they now equal 16% of the nation’s overall economic output, a percentage point up from last year, the Times said.

The paper cited Eaton Corp., which makes truck transmissions in Brazil, some of which are shipped to Ohio and used in Navistar Corp. trucks.

Ford Motor Co. also makes gasoline engines in Mexico for cars made in the United States, the Times said. Gasoline engines purchased abroad for automobiles made in America rose by 8% in January, to $960 million, it reported.

Imported steering and suspension mechanisms also rose 8% in January, to $312 million, accounting for much of the 19% increase in such items in the past year, the paper said.