International trade deficit surges to highest in a decade as imports rise, US exports drop

[UpInArms]

5. U.S. trade deficit climbs to 10-year high as American snap up imports while China boycotts soybeans

?uuid=c485c4f6-f95c-11e8-baee-ac162d7bc1f7

The deficit edged up to $55.5 billion from a revised $54.6 billion in September, the Commerce Department said Thursday. That’s the biggest deficit since October 2008.

Economists polled by MarketWatch had forecast a $55.1 billion gap.

What happened: Imports rose 0.2% to $266.5 billion in October, also a record. The U.S. imported more autos, drugs and other consumer goods.

Exports slipped 0.1% to $211 billion. Shipments of industrial supplies increased, but exports of soybeans and airplanes fell.

The trade deficit with China in goods rose again to a fresh all-time high of $43.1 billion.


https://www.marketwatch.com/story/us-trade-deficit-climbs-to-10-year-high-despite-tariffs-tough-trump-stance-2018-12-06?mod=newsviewer_click