Reported about 7 hours ago
In January, the US trade deficit reached a record high, widening 34% to $131.4 billion as companies rushed to import goods before President Trump's tariffs took effect on major trading partners like Canada, Mexico, and China. Imports soared to $401.2 billion, while exports only rose 1.2%. As the administration implemented extensive tariffs, Canada and Mexico retaliated, leading to a significant trade shift, particularly with Canada's trade surplus escalating due to auto and oil exports.
Source: YAHOO