Trade Deficit Hits Record High, Billions Larger With China, Mexico
(Worthy News) – The U.S. trade deficit increased in September to $80.9 billion according to Commerce Department data, setting a new record as American exports declined and supply chain issues continued to plague U.S. ports.
While imports climbed nearly half of a percentage in September, exports fell by 3% to $207.6 billion worth of goods. The previous record for the trade deficit, set in June, had been $73.2 billion. According to the Bureau of Economic Analysis (BEA), the deficit had increased by $8.1 billion since August.
Trade deficits with several major countries increased, including China and Mexico. According to the data, September saw a $3.4 billion increase in the deficit with China, bringing America’s total trade deficit with China up to $31.5 billion. Similarly, the trade deficit with Mexico also increased by $2.3 billion. [ Source: Daily Wire (Read More…) ]
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