U.S. trade deficit soars to record high


trade shipping containers worthy ministries(Worthy News) – As cargo ships clogged U.S. ports, the trade deficit soared to a record high in March. The Commerce Department reported Tuesday that the trade gap widened by 5.6%.

Businesses with low inventories are forced to import more goods because manufacturers can’t satisfy the surge in demand. Americans splurged on foreign-made clothing, toys, and furniture.

The trade gap could widen further as the U.S. economy rebounds faster than its global rivals. [ Source: Yahoo (Read More…) ]

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