Economics
U.S. Trade Gap Widens to Post-Recession High
- Exports fell in January from prior month; imports unchanged
- Trump has said deficit shows U.S. being taken advantage of
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The U.S. trade deficit widened more than forecast in January to a post-recession high, adding to figures cited by President Donald Trump as evidence of American weakness while he brings the nation to the brink of a trade war.
The gap increased 5 percent to $56.6 billion, the biggest since October 2008, from a revised $53.9 billion in the prior month, Commerce Department data showed Wednesday. Exports fell 1.3 percent from December, the most in more than a year, while imports were little changed.