U.S. Trade Gap in Goods Widened 10% in 2018
Strong consumer spending drove imports higher as trade tensions and softening global growth hit exports
WASHINGTON—The U.S. trade deficit in goods widened 10% in December from a year earlier, growing despite the Trump administration’s efforts through tariffs and other measures to make it smaller.
The U.S. trade gap in merchandise reached $79.5 billion at the end of 2018, $7 billion wider than a year earlier, the Commerce Department said Wednesday. The gap—a record high, though not adjusted for inflation—grew because exports fell 0.3% while imports rose 3.2%.
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