U.S. Trade Deficit Widens More Than Expected In August
(RTTNews) - A report released by the Commerce Department on Tuesday showed the U.S. trade deficit widened by more than expected in the month of August.
The US trade deficit expanded beyond expectations in August, despite President Donald Trump's implementation of tariff measures, as reported by Reuters. The trade gap increased by 13.7% from the prior month, reaching $105.6 billion. Economists surveyed by Reuters had forecasted the deficit at $102 billion. The rise was primarily attributed to a significant surge in imports.
In August, total imports rose 4.3% to $420.8 billion, whereas exports climbed only 1.4% to $315.2 billion. Goods imports experienced a 5.3% increase to $342.2 billion, while goods exports expanded by 2.2% to $205.7 billion. Prabhakar Jha, a journalist and digital news editor with experience in breaking news, politics, and national affairs, details the data for LiveMint.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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