Trade deficit rises to record $74.4 billion in March

Trade deficit rises to record $74.4 billion in March
Niv Elis
© Getty Images
Trade deficit rises to record $74.4 billion in March
The trade deficit, the difference between how much the U.S. sells and buys internationally, reached a record $74.4 billion in March, according to Commerce Department data released Tuesday.
The 5.6 percent increase over February continues a steady trend of record-breaking deficits as the U.S. economy awakens from the COVID-19 pandemic, even as much of the world remains mired in restrictions amid outbreaks, slow vaccine rollouts and limited vaccine supply.
The overall level of trade increased for the month, with both imports and exports rising notably. But the $16.4 billion in additional imports outpaced the $12.4 billion growth in exports.

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