Trade imbalance rose to $621bn in 2018 despite new tariffsDeficit jumped 19% in December aloneThe US trade deficit hit a 10-year tall in December,dealing a blow to Donald Trump’s efforts to restrict imports, particularly from China, or with protectionist trade tariffs.
The gap between the goods US companies sell to China and Chinese imports ballooned to a record $419bn (£318bn),while the total deficit in goods with all countries jumped to $891bn. A surplus in services trade was unable to prevent the overall deficit for 2018 from rising nearly 19% in December to a decade-long tall of $621bn, the commerce department said. Related: US trade gap hits 10-year tall as Trump's trade war backfires - business live Continue reading...
Source: theguardian.com