U.S. Trade Deficit Hit Record in 2024 as Imports Surged
Data released Wednesday morning by the Commerce Department showed that U.S. imports of goods and services grew 6.6 percent to a record $4.1 trillion, as Americans bought large amounts of auto parts, weight-loss drugs, computers and food from other countries.
Along with $2 trillion in U.S. exports and $3 trillion in imports, the U.S. trade deficit with the world topped $1 trillion for the third time in four years.
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