Washington — The US trade deficit widened more than expected in August as imports jumped to a record high against the backdrop of robust domestic demand, keeping trade on track to again subtract from economic growth in the third quarter.
The Commerce Department reported that the trade gap increased 13.7% to $105.6 billion, the highest level in 17 months. Imports rose 4.3% to a record $420.8 billion, while exports increased 1.4% to $315.2 billion.
The deterioration came despite President Donald Trump’s aggressive tariffs on imports, which he has argued are meant to shrink the trade gap. The nation posted record goods trade deficits with at least three countries, including Mexico.
More Business
- MarAlliance Launches Free MARAP App to Track Marine Wildlife in the Mexican Caribbean
- Playa del Carmen Seeks Million-Dollar Investment for Sargassum Processing Plants
- Cancún Restaurant Sector Welcomes Extended Hours in Hotel Zone
- Yucatan Debuts Southeast Mexico’s First Cyclotron for Precision Oncology
- Playa del Carmen Offers Business Incentives, Courts Investment in Low Season
