U.S. trade deficit hits record $98.4 billion in December, with China contributing over half.
The U.S. trade deficit hit a record high of $98.4 billion in December 2024, marking a 25% increase from the previous month and a 17% rise to $918.4 billion annually. Imports surged to a record $364.9 billion, up 3.5%, while exports fell 2.6% to $266.5 billion. President Trump's planned tariffs and second term are seen influencing trade patterns, as the deficit with China reached $295.4 billion, surpassing deficits with Canada, Mexico, and the EU combined.
2 months ago
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