U.S. trade deficit highest since 2008

From The Hill:

The U.S. trade deficit rose nearly $1 billion in October, reaching the highest level in a decade as imports outpaced declining exports, according to federal data released Thursday.

The gap in value between what the U.S. sells to and buys from foreign nations rose to $55.5 billion in October, the fifth-consecutive monthly increase in the country’s trade deficit in goods and services, according to the Commerce Department.

October’s trade deficit was the biggest since the gap reached $60.1 billion in October 2008. The deficit, a crucial focus of President Trump‘s protectionist trade agenda, has risen 11.4 percent since October 2017.

Trump has sought massive reductions to the trade deficit, which he uses as a barometer for the fairness of the country’s trade terms with other nations…

Continue reading at The Hill…

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