Economics
Tariffs Bite U.S. Economy With Record Trade Gap, Cooler Orders
- Goods-trade deficit widens to all-time high of $76 billion
- Orders for business equipment unexpectedly fell in September
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The U.S. merchandise-trade deficit widened to a record in September while orders for business equipment declined for a second month, adding to signs that an escalating tariff war is starting to constrain economic growth.
The gap in goods trade rose to $76 billion from $75.5 billion as gains in imports outpaced exports, Commerce Department figures showed Thursday, with both categories potentially reflecting shipments rushed to beat tariffs between the U.S. and China. A separate report from the department showed orders at U.S. factories for non-defense capital goods, excluding aircraft, unexpectedly fell last month.