- The US trade deficit swelled 5.9% to $67.1 billion in August, the Commerce Department said Tuesday, reaching its largest level since 2006.
- Economists surveyed by Bloomberg expected the trade gap to widen to $66.2 billion.
- Shipments of consumer goods led the increase in imports and hit a record high as companies prepared for holiday-season spending.
- President Trump frequently pointed to the trade deficit as a gauge of his trade policies’ success. The growing gap gives him little to brag about heading into the 2020 presidential election.
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The US trade deficit swelled to its largest since 2006 in August as holiday-season importing accelerated.
The gap in trade of goods and services grew