US trade deficit jumps to $68.1 billion in November

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The U.S. trade deficit rose in November, according to the Commerce Department. PHOTO CREDIT: Ted S. Warren
The U.S. trade deficit rose in November, according to the Commerce Department. PHOTO CREDIT: Ted S. Warren
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Posted By: biztimes January 7, 2021

WASHINGTON — The U.S. trade deficit jumped to $68.1 billion in November as a surge in imports overwhelmed a smaller increase in exports.

The November gap between what America buys from abroad compared to what it sells abroad rose by 8% from the October deficit of $63.1 billion, the Commerce Department said today.

Through the first 11 months of 2020, the deficit stands at $604.8 billion, 13.9% higher than the same period in 2019. President Donald Trump has insisted that his get-tough trade policies with the rest of the world would shrink the deficit and bring back American jobs.

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