US Trade Deficit Rises in August to Highest in 14 Years, Goods Deficit Hits Record High

The U.S. flag flies over shipping cranes and containers in Long Beach, Calif., on March 4, 2019. Mark Ralston/AFP via Getty Images

The U.S. trade deficit jumped in August to its highest level in 14 years as imports climbed more than exports, with the deficit in goods hitting its highest level on record.

The Commerce Department said in a report on Tuesday (pdf) that the trade deficit in goods and services jumped 5.9 percent to $67.1 billion, the widest since August 2006.