Trade deficit widens sharply to $46.3 billion
By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON (AP) — The U.S. trade deficit widened sharply in August, reflecting
a surge in imports of consumer products as businesses restocked their shelves
in hopes of a pickup in consumer demand.
The politically sensitive deficit with China climbed to an all-time high, a
development that was certain to increase pressure on the Obama administration
to take a tougher line on trade issues including China’s tightly controlled
currency.
The Commerce Department says the deficit in August increased 8.8 percent to
$46.3 billion. Exports edged up a slight 0.2 percent but this increase was
swamped by a 2.1 percent jump in imports.