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U.S. Trade Deficit Widens to Record $109.8 Billion as Imports Surge
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Strong U.S. demand for computers, vehicles and oil helped drive the U.S. trade deficit to a new record of $109.8 billion in March.
The Commerce Department on Wednesday said the trade deficit widened by 22.3% from the prior month. Imports rose by 10.3% to $351.5 billion as the U.S. took in far more goods than it exported. Exports, however, also rose strongly—increasing 5.6%—but didn’t keep pace with imports amid global uncertainty stemming from the conflict in Ukraine.
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