The U.S. trade deficit in November rose to the highest level in nine months as imports of oil and other foreign goods increased, while American exports fell for a second month.The Commerce Department reported today in Washington that the trade deficit jumped 6.8 per cent to USD 45.2 billion, the largest imbalance since February. Exports edged down 0.2 per cent to USD 122.4 billion, reflecting lower overseas sales of American-made airplanes, autos and farm products. Imports rose 1.1 per cent to USD 231.1 billion, led by a 7.6 per cent jump in oil.President-elect Donald Trump made America's large trade deficits a central part of his campaign. He promised to impose high tariffs on countries such as China and Mexico unless they reformed what Trump charged were unfair trading practices that have cost millions of American jobs.
News On AIR | January 7, 2017 8:33 AM
US trade deficit in November rises to highest level in 9 months