Reported 1 day ago
In March, the US trade deficit soared to a record $140.5 billion, driven by businesses ramping up imports ahead of impending tariffs from President Trump. While imports from most countries, including Mexico and Vietnam, surged, imports from China plummeted to a five-year low as tariffs reached 145%. The substantial increase in imports has raised concerns about a negative impact on the US dollar and overall economic growth, marking the first GDP contraction in three years.
Source: YAHOO