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U.S. trade deficit widens 8% in November

08 January 2021 10:00 (UTC +04:00)

President Donald Trump lost again in November in his battle to curb the U.S. trade deficit, which increased 8 percent to its highest level since August 2006, a Commerce Department report showed, APA-Economics reports.

Retailers stocking their shelves and warehouses ahead of the Christmas holiday appeared to be the major factors behind the sharp jump, pushing imports of consumer goods to a record high. Imports of capital goods used by manufacturers were the highest in two years.

The combined deficit for goods and services was $68.1 billion, while the deficit for goods alone was a record $86.4 billion.