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US trade deficit reaches record $73.3bn amid ongoing spat with China



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The US trade imbalance in August rose to an all-time high, having widened by another $3 billion, or 4.2%, as relatively insignificant gains in exports were swamped by a much larger growth in imports.

The trade deficit, which amounted to $73.3 billion, topped the previous record of $73.2 billion set in June, according to a report released by the US Department of Commerce. Economists polled by Reuters had expected the trade gap to widen to $70.5 billion.Exports rose 0.5% to $213.7 billion, reflecting revived overseas demand after economies reopened following Covid-related lockdowns. Meanwhile, imports, even with all the supply chain problems at ports, increased by 1.4% to $287 …

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