US Trade Gap

The US trade deficit climbed in October to 42.6-billion dollars – up 17.8 per cent from September.

Exports slipped in October as shipments of soybeans fell, while imports surged to a 14-month high.

Despite the increase, the US trade deficit so far this year is running 2.1 per cent below its 2015 levels.

President-elect Donald Trump has made reducing the trade deficit a primary focus, saying flawed trade agreements have hurt American economic growth and factory employment.

The Associated Press

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