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US trade deficit hits record high in February

FILE- In this Jan. 30, 2018, file photo, tractor-trailer trucks move cargo in shipping containers out of the Port of Savannah in Savannah, Ga. President Donald Trump announced Friday, June 15, 2018, that starting next month the U.S. will impose a 25 percent tariff on up to $50 billion in Chinese imports. (AP Photo/Stephen B. Morton, File)

Trade gap increased 4.8%

Reuters

The U.S. trade deficit surged to a record high in February as the nation’s economic activity rebounded more quickly than that of its global rivals and could remain elevated this year, with massive fiscal stimulus expected to spur the fastest growth in nearly four decades.

The economy is roaring as increased COVID-19 vaccinations and the White House’s $1.9 trillion pandemic rescue package boost domestic demand, a chunk of which is being satiated with imports.

Click the link below to read the rest of this story.

https://www.foxbusiness.com/economy/us-trade-deficit-hits-record-high-in-february

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