Trade Deficit in U.S. Widens to Largest in Almost Five Years
- Imports rise by most since 2015, outpacing export gains
- Trump administration says data show ‘much work to be done’
Goldman's Currie Says Border Tax Would Help Oil, Trade
This article is for subscribers only.
The U.S. chalked up its largest trade deficit since March 2012 as a jump in merchandise imports in January exceeded a smaller gain in shipments overseas.
The gap in goods and services trade increased by 9.6 percent to $48.5 billion, matching the median forecast in a Bloomberg survey, Commerce Department figures showed Tuesday. The deterioration in January from the previous month reflected a 2.3 percent gain in imports, the most since March 2015, and a 0.6 percent pickup in exports.