The U.S. trade deficit widened sharply in December, driven by a record high in imports on the back of tariff threats. The Commerce Department's Bureau of Economic Analysis revealed that the trade deficit rose by 24.7 percent, to reach $ 98.4 billion, the highest level since March 2022, compared to $ 78.9 billion in November.
Imports increased 3.5 percent to a record$364.9 billion, while exports fell 2.6 percent to $266.5 billion. The U.S. economy grew at an annual rate of 2.3 percent, with most of that growth coming from inventories, after a 3.1 percent expansion in the July-September quarter.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
