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Seven days: 8 March 2019

Seven days: 8 March 2019

Trade gap widens

The US trade deficit rose to a 10-year high in 2018, defying President Trump’s campaign pledge to shrink the gap between US imports and exports. The goods and services trade deficit increased by 12 per cent to $621bn (£472bn), according to the US Census Bureau, the widest difference since the $709bn gap reported in 2008. The growth in deficit was attributed to a stronger economy boosting demand for imports, with retaliatory tariffs making it more difficult for US companies to sell goods abroad.    

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