The U.S. trade deficit widened by almost 12% in March as the coronavirus pandemic takes a toll on the country’s exports and imports.
Imports fell 6.2%, but U.S. exports sunk at an even deeper 9.6% to cause the trade gap to rise.
It’s the highest monthly decline in exports ever recorded.
The U.S. deficit rose to $44.4 billion in March from $39.8 billion in February.
The reports were the latest indication that the economy was sinking deeper into recession and that a sharp rebound was unlikely even as parts of the United States started to reopen.
Yvad Billings, Readers Bureau, Fellow
Edited by Jesus Chan
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