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US trade deficit rises to near 9-1/2-year high; jobs market tightens

The politically sensitive goods trade deficit with China fell 18.6 percent to $29.3 billion. The deficit with Mexico surged 46.6 percent in February

Reuters  |  WASHINGTON 

The U.S. trade deficit increased to a near 9-1/2-year high in February, with both exports and imports rising to record highs, but the shortfall with China narrowed sharply. News of the worsening trade deficit comes as the United States and China are embroiled in tit-for-tat tariffs which have rattled global financial markets. It also underscores the challenges confronting President Donald Trump's "America First" trade policies aimed at eradicating the deficit. The Commerce Department said on Thursday the trade gap rose 1.6 percent to $57.6 billion, the highest level ...

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First Published: Thu, April 05 2018. 18:42 IST