US trade deficit widens by the most in nearly 34 years in November
https://finance.yahoo.com/news/us-tr...144236696.html
https://www.newsmax.com/finance/stre...29/id/1244049/
The U.S. trade deficit widened by the most in nearly 34 years in November amid a surge in capital goods imports, likely driven by an artificial intelligence investment boom, which could prompt economists to trim their economic growth estimates for the fourth quarter.
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Imports jumped 5.0% to $348.9 billion. Goods imports advanced 6.6% to $272.5 billion, with capital goods soaring $7.4 billion to a record high. They were boosted by strong gains in imports of computers and semiconductors. But imports of computer accessories decreased by $3.0 billion.
Imports of other goods were also the highest on record. Consumer goods imports increased by $9.2 billion, lifted by pharmaceutical preparations. There have been large swings in imports of pharmaceutical preparations, likely related to U.S. tariffs. Imports of industrial supplies fell by $2.4 billion.
Exports tumbled 3.6% to $292.1 billion in November. Goods exports plunged 5.6% to $185.6 billion. They were pulled down by a decline of $6.1 billion in exports of industrial supplies and materials, reflecting decreases in non-monetary gold, other precious metals as well as crude oil, which dropped by $1.4 billion.
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Weren't tariffs supposed to change this?
