The U.S. trade deficit hit an all-time high in February as Americans bought more imported goods in President Joe Biden’s first month in office.
The trade deficit jumped 4.8 percent to $71.1 billion in February, according to a report released Wednesday from the Commerce Department.
The surge is a $3.3 billion increase from January’s deficit of $67.8 billion.
The US trade deficit in February surged to a record high, according to the latest @CommerceGov report. https://t.co/sDO5rSEbzW pic.twitter.com/BP4BlT2oQ5
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The record comes after Americans received more stimulus checks from Biden’s $1.9 trillion COVID relief bill.
The U.S. economy also gained 916,000 new jobs in March, according to MarketWatch.
“Faster U.S. growth relative to the rest of the world has widened the trade deficit to a historic record,”
