Import Surge Sends US Trade Deficit to Record High

Import Surge Sends US Trade Deficit to Record High
File photo showing ships and shipping containers at a port in Long Beach, Calif., on Jan. 30, 2019. Mike Blake/Reuters
Tom Ozimek
Updated:

The U.S. trade deficit in goods and services rose to a record high in June, largely due to a surge in imports as businesses built up inventories to meet robust consumer demand.

The Commerce Department said in an Aug. 5 statement (pdf) that the trade deficit—the difference between exports and imports of goods and services—rose by 6.7 percent in June, hitting an all-time high of $75.7 billion.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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