The U.S. trade deficit jumped to $68.1 billion in November as a surge in imports overwhelmed a smaller rise in exports.

The November gap between what America buys from and sells abroad rose by 8% from the October deficit of $63.1 billion, the Commerce Department said. Through the first 11 months of 2020, the deficit stands at $604.8 billion, 13.9% higher than the same period in 2019. President Donald Trump has insisted his get-tough trade policies with the rest of the world would shrink the deficit.

Source: Read Full Article