Business

U.S. trade deficit rises to a record high in March

FILE PHOTO: Ships and shipping containers are pictured at the port of Long Beach in Long Beach, California, U.S., January 30, 2019. REUTERS/Mike Blake/File Photo

WASHINGTON (Reuters) – The U.S. trade deficit jumped to a record high in March amid roaring domestic demand, which is drawing in imports, and the gap could widen further as the nation’s economic activity rebounds faster than its global rivals.

The trade deficit increased 5.6% to an all-time high of $74.4 billion in March, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast a $74.5 billion trade gap in March.

Source: Read Full Article