WASHINGTON: The US trade deficit swelled in January to its highest level in nearly a decade as oil prices rose and the world’s biggest economy sold fewer aircraft, government data showed Wednesday. They also follow official reporting last month showing Trump’s first year in office had the highest trade gap since the start of the global crisis in 2008. “The trend is falling as US oil production rises.”Excluding volatile oil data, the deficit actually fell by $1.9 billion, he added. But the goods deficit with Canada reached its highest level in three years at $4.1 billion for the month. With China, the goods deficit rose 16.7 percent to its highest level in more than two years at $36.3 billion.

Source: Manila Times March 07, 2018 21:33 UTC