LATEST NEWS

• Trade imbalance rose to $621bn in 2018 despite new tariffs
• Deficit jumped 19% in December alone

The US trade deficit hit a 10-year high in December, dealing a blow to Donald Trump’s efforts to restrict imports, especially from China, 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 high of $621bn, the commerce department said.

Continue reading...

from US news | The Guardian https://ift.tt/2EHYPzP