Businesses face new trade headwinds as US deficit widens
The U.S. trade deficit in goods and services widened significantly in May, reaching $77.6 billion, as imports increased while exports declined, The New York Times reports. According to the Commerce Department, exports fell 3.2% to $317.7 billion, while imports rose 3.3% to $395.3 billion. The rise in imports was driven largely by strong demand for […]
The U.S. trade deficit in goods and services widened significantly in May, reaching $77.6 billion, as imports increased while exports declined, The New York Times reports. According to the Commerce Department, exports fell 3.2% to $317.7 billion, while imports rose 3.3% to $395.3 billion. The rise in imports was driven largely by strong demand for […]
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