U.S. trade deficit widens in March
The numbers: The nation’s trade deficit rose slightly in March, but it continued to run below year-ago levels in a sign the gap might not weigh on the economy as heavily this year as it did in 2018.
What happened: Imports rose 1.1% to $262 billion, reflecting increases of industrial supplies from Germany and Japan. Imports from Germany hit a record high. Trade ties with China continued to be disrupted by the ongoing dispute with the Trump White House. The U.S. gap in goods fell to a three-year low after seasonal adjustments and a five-year low in raw terms.Big picture: The U.S. economy has grown for years and remains the biggest in the world despite decades of trade deficits, but a persistently large gap has weighed on gross domestic product. Bigger deficits subtract from GDP.
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