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Tag: scorecard

Trump’s favorite trade scorecard posts its worst figure since 2006 as the election looms

October 6, 2020
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President Donald Trump talks to reporters during a meeting with Iraqi Prime Minister Mustafa Al-Kadhimi in the Oval Office at the White House August 20, 2020 in Washington, DC.

Anna Moneymaker-Pool/Getty Images

  • 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.
  • Visit Business Insider’s homepage for more stories.

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

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