U.S. Trade Deficit Hit Record in 2024 as Imports Surged

The U.S. trade deficit hit a record in 2024 as imports surged. The New York Times reported that the trade gap ballooned ahead of Trump’s term and tariff promises. Bloomberg and Newsweek also noted that the U.S. trade deficit widened significantly ahead of the implementation of Trump’s tariffs. Reuters added that the U.S. trade deficit widened sharply in December as imports hit a record high. — news from The New York Times