US Trade Deficit Surges to 10-Year High at $621 billion

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The skyrocketing US trade deficit hit the highest level in a decade last year despite President Donald Trump’s global trade offensive, according to a Government report.

America’s trade deficit with the world jumped 12.5 per cent to $621 billion, the Commerce Department reported, as both imports and exports rose to the highest levels ever.

And the trade gaps with China, Mexico and the European Union also reached at all-time highs even though Washington slapped tariffs on hundreds of billions in imports from its largest trading partners.

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