U.S. Trade Deficit Is Widest Since January
The Mediterranean Shipping Co. (MSC) Pilar cargo ship sits docked at the APM Terminals yard in the Port of Mobile in Mobile, Alabama, U.S., on Thursday, July 20, 2017.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
The U.S. trade deficit widened in October to a nine-month high on record imports that reflect steady domestic demand, Commerce Department data showed Tuesday.
The surge in imports probably reflected merchants preparing for the holiday-shopping season. Consumer goods imports increased almost $800 million, including a $303 million gain in cell phones and other household goods, as well as more inbound shipments of furniture, appliances, toys and clothing.