Trade Deficit Hits Record High As Demand For Foreign-Made Goods Increases


U.S. Trade Deficit Rises To Highest Level In History

U.S. Trade Deficit Rises To Highest Level In History

(Washington, DC) -- The U.S. trade deficit is hitting a new record high as demand for foreign-made goods keeps increasing. The Department of Commerce says the U.S. trade imbalance reached over 74-billion-dollars in March. That's the highest level ever since January 1992 and it represents a more than 50-percent increase from one year ago. Specifically, the trade imbalance with China increased more than 22-percent. Experts predict American consumers will spend less on imported goods as the coronavirus pandemic turns the corner.