The US trade deficit reached 74.4 billion U.S. dollars in March and hit a record high again. Nearly half of the trade deficit came from China.
According to data released by the US Department of Commerce on May 4, the US trade deficit hit a record high in March, rising from US$70.5 billion in February to US$74.4 billion.
Data show that in March, US imports of goods and services reached 274.5 billion U.S. dollars, an increase of 6.3%; exports amounted to 200 billion U.S. dollars, an increase of 6.6%. Compared with the data for the same period in 2020, US exports in March fell by 21 billion U.S. dollars, and imports increased by 62.2 billion U.S. dollars.
In addition, the U.S. trade deficit with China reached 36.9 billion U.S. dollars in March, an increase of 6.7 billion U.S. dollars from February. Exports increased by US$900 million to US$11.3 billion, and imports increased by US$7.6 billion to US$48.2 billion.
According to data previously released by the U.S. Department of Commerce, the U.S. trade deficit reached 678.7 billion U.S. dollars in 2020, an increase of 17.7% from 2019, a record high since the 2008 international financial crisis.
Source: dwnews