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U.S. trade deficit rises more than expected due to surge in oil imports |
| Home | (The Associated Press) - WASHINGTON: The trade deficit shot up in March to the highest level in six months, driven by a big jump in imported oil. The politically sensitive deficit with China shrank as U.S. exports to that country hit an all-time high. The Commerce Department reported Thursday that the gap between what the United States imports and what it sells to the rest of the world rose to $63.9 billion in March, up 10.4 percent from the February level. That was a bigger-than-expected deterioration in the trade deficit from the $60 billion deficit that analysts were forecasting. It reflected a big 17.6 percent jump in oil imports, which climbed to $24.6 billion, the highest level in six months. |