U.S. trade deficit in Trump’s first year soars to 9-year high of $566 billion

• February 6, 2018
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance, Your Real Estate Life

The U.S. trade deficit in December and for the full year both rose to the highest levels since 2008, complicating efforts by President Trump to fulfill his vow to reduce the gap.

The deficit in December rose 5.3% to a $53.1 billion, the Commerce Department said Tuesday. Economists polled had forecast a $52.2 billion gap.

Imports increased 2.5% to a record $256.5 billion in December. Exports edged up 1.8% to $203.4 billion, also a new high water mark.

In 2017, the U.S. trade gap leaped 12.1% to a nine-year high of $566 billion.