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Soaring imports push US trade deficit to nine-year high of $566 billion

US President Donald Trump has vowed to shrink the trade gap through his "America First" trade policies


The US trade deficit widened more than expected in December, hitting its highest level since 2008 as robust domestic demand pushed imports to a record high. The Commerce Department said on Tuesday the trade gap increased 5.3 percent to $53.1 billion. That was the highest level since October 2008 and followed a slightly upwardly revised $50.4 billion shortfall in November. Economists polled by Reuters had forecast the trade deficit rising to $52.0 billion in December after a previously reported $50.5 billion in the prior month. Part of the rise in the trade gap in December ...

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First Published: Tue, February 06 2018. 19:39 IST