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6mo ago

US Trade Deficit Surges to $84.4 Billion in September

The widening gap, driven by increased imports and falling exports, marks the largest deficit since early 2022.

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The US trade deficit grew by 19.2 percent in September, according to government figures
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Overview

  • The trade deficit grew 19.2% from August to September, reaching $84.4 billion, according to the Commerce Department.
  • Imports rose by 3.0%, with businesses stocking up ahead of potential disruptions and higher tariffs.
  • Exports fell by $3.2 billion, with notable declines in civilian aircraft and pharmaceuticals.
  • Republican candidate Donald Trump has proposed significant tariffs on Chinese goods and other imports if elected.
  • The trade deficit has negatively impacted GDP growth for three consecutive quarters, subtracting 0.56 percentage points in Q3.