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U.S. trade deficit jumps to record high on pre-tariff import rush
The U.S. trade deficit in goods and services soared to a record $140.5 billion in March. Year-to-date, the deficit has increased 92.6%, as companies and consumers rush to import goods before President Donald Trump’s sweeping global tariffs increase on July 6. Imports alone have risen 23.3% so far this year and were $17.8 billion higher just last month, the Bureau of Economic Analysis said Tuesday. Exports from the U.S. to other countries increased by just $500 million. Trump’s tariffs, which already amount to more 145% on China, are set to increase in just under 65 days after they were initially paused. Imports ... (full story)
