US trade deficit up as price of oil rises
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America's trade deficit rose to its second-highest level of the year as the price of imported crude oil jumped and demand for Chinese products remained strong despite recalls of tainted products.
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Record oil prices widened the deficit in November as the cost of imported petroleum outpaced a modest rise in exports.
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The US trade deficit widened nearly 9 percent in October to a record $55.5 billion as sky-high oil prices helped propel imports into uncharted territory, the government said on Tuesday.
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Record oil prices widened the United States trade deficit in November as the cost of imported petroleum outpaced a modest rise in exports.
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WASHINGTON -- The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record foreign crude oil prices. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
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WASHINGTON -- The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record imports of foreign oil. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
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A record US trade deficit is rekindling the globalization debate.
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America's trade deficit swelled to an all-time high of &#36;55.5 billion in October as imports &#151; including those from China &#151; surged to the loftiest levels on record. Skyrocketing crude-oil prices also contributed to the yawning trade gap.
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Pushed up by soaring oil prices, America's trade deficit surged to a record high in the summer, but analysts predicted a slowly improving imbalance in the months ahead.
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A record jump in the price of imported oil pushed the trade deficit to &#36;63.8 billion in May, offsetting robust overseas sales gains by American companies.
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The U.S. trade deficit widened more than expected in August to its second-highest level on record, fueled by the highest oil import prices in 23 years and record imports from China, the U.S. government said on Thursday.
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The US trade deficit, propelled by a record foreign oil bill, surged to $54 billion in August, the second highest level in history.
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The trade deficit widened as expected in May, as higher oil prices helped lift imports to an all-time high, swamping a boost to exports from stronger overseas growth and a weaker dollar, a government report showed on Thursday.
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The U.S. trade deficit widened   sharply in July to a record $68 billion, as oil import prices,   and demand for foreign goods and services rose to new highs, a   government report showed on Tuesday.
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The U.S. trade deficit widened nearly 9 percent in October to a record &#36;55.5 billion as sky-high oil prices helped propel imports into new territory, the government said on Tuesday.
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The US trade deficit has exploded 19% to a record $55.8bn as oil costs drove imports higher, according to a latest figures.
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The US trade deficit widened to a new high of $55.5 billion in October, boosted by high oil prices and record imports from China as retailers geared up for Christmas.