US Trade Deficit Expands to Highest Level Since 2022, Gap Widens 0.8%
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#99dc5812 ver:0.64
The US trade deficit reached its highest level since 2022, expanding to $75.1 billion in May. Exports fell by $1.8 billion, while imports decreased by $1.2 billion. The deficit with China increased by $1.9 billion. The trade imbalance is expected to negatively impact Q2 GDP growth, with the strength of the dollar making US goods more expensive. In contrast, India recorded a current account surplus and saw growth in exports. The US agricultural trade deficit has reversed, with rising imports contributing to a reduction in US fresh fruit and vegetable production. #TradeDeficit #USChinaTrade #GDP #Exports #Imports #India...
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