Commerce Dept.: U.S. trade deficit has grown by nearly $1B


(Worthy News) – The U.S. trade deficit has grown by nearly $1 billion after the Trump administration imposed new tariffs against Chinese products, the Commerce Department said in a report Friday.

The U.S. trade deficit grew from $54 billion in July to $54.9 billion in August, the department analysis said. The increase was driven by an explosion of imported consumer goods along with new tariffs against China and Europe.

“The goods and services deficit increased $28.3 billion, or 7.1 percent, from the same period in 2018,” the study said. “Exports decreased by $3.2 billion or 0.2 percent. Imports increased $25.1 billion or 1.2 percent.” [ Source: UPI (Read More…) ]

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