President Donald Trump vowed to end the “massive trade deficit” that grew to record numbers under former President Joe Biden.
The U.S. trade deficit surged in January, Biden’s last month as president. Imports rose 10% to $401.2 billion, while exports climbed by 1.2% to $269.8 billion, The Wall Street Journal reported Thursday.
The all-time high trade deficit of $131.4 billion was 34% greater than the $98.1 billion deficit in December. The percentage change in the deficit announced by the Commerce Department’s Bureau of Economic Analysis was the largest since March 2015.
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