US trade gap rises again; at 9 ½-year high

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April 4, 2018 - 11:00 PM

WASHINGTON (AP) — The U.S. trade deficit rose for the sixth straight month in February, reaching the highest level since October 2008 and defying President Donald Trump’s efforts to rebalance America’s lopsided trade with the rest of the world.

The Commerce Department said Thursday that the trade gap — the difference between what America sells and what it buys in foreign markets — widened to $57.6 billion in February from $56.7 billion in January. Exports of goods and services hit a record $204.4 billion; imports set a record $262 billion.

The news comes amid a U.S. trade dispute with China that has rattled global financial markets and raised fears among U.S. farmers and businesses that depend on access to the Chinese market. The trade deficit in goods with China narrowed in February to $29.3 billion from $36 billion in January.

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