US Trade Deficit Widens to Largest Gap Since April 2023

The U.S. international trade deficit widened at a larger-than-expected pace and ballooned to the highest level in 10 months, according to new data from the Bureau of Economic Analysis (BEA). In February, the trade imbalance increased to $68.9 billion from an upwardly revised $67.6 billion in January. This represented the largest shortfall since April 2023. Exports climbed 2.3 percent to an all-time high of $263 billion, driven by shipments of civilian aircraft, crude oil, and soybeans. Exports of passenger cars dipped. Imports also surged 2.2 percent to a 14-month high of $331.9 billion. Purchases of automobiles, household goods, mobile phones, and pharmaceutical preparations mainly fueled the rise in imports....