2017 trade deficit hits 10-year high of US$566b
Robust domestic demand pushes imports to record high, complicating Donald Trump's vow to shrink trade gap
Washington
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 per cent to US$53.1 billion. That was the highest level since October 2008 and followed a slightly upwardly revised US$50.4 billion shortfall in November.
Economists polled by Reuters had forecast the trade deficit rising to US$52 billion in December after a previously reported US$50.…
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