Archive for Friday, October 13, 2006

Trade deficit hits record

October 13, 2006


— America's trade deficit unexpectedly jumped to a record in August, providing ammunition for Democrats to attack Republican trade policies in the closing weeks of the fall election campaign.

The gap between what the U.S. exports and what it imports rose by 2.7 percent to $69.9 billion, marking the second straight month it has set a record, the Commerce Department reported Thursday.

The deterioration in trade was led by another record foreign oil bill, which pushed imports up to an all-time high, swamping a solid increase in exports, which also set a record. The politically sensitive trade deficit with China also set a monthly record at $22 billion.


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