WASHINGTON | Record imports push US trade gap to $55.5 billion in October
WASHINGTON — Record imports in October drove the U.S. trade deficit to the highest level in a decade.
The Commerce Department said Thursday that the gap between the United States sells and what it buys from foreign countries hit $55.5 billion in October, the fifth straight increase and highest since October 2008.
The politically sensitive deficit in the trade of goods with China rose 7.1% to a record $43.1 billion. The goods gap with the European Union widened 65.5% to a record $17.6 billion.