US trade deficit surges to 10-year high in 2018
WASHINGTON: The skyrocketing US trade deficit hit the highest level in a decade last year despite President Donald Trump's global trade offensive, according to a government report yesterday.
America's trade deficit with the world jumped 12.5 per cent to US$621 billion (S$843 billion), the Commerce Department reported.
Trade gaps with China, Mexico and the EU also reached all-time highs even though Washington slapped tariffs on hundreds of billions in imports from its largest trading partners. - AFP