U.S. March Trade Deficit Hits Record High Due to Tariff-Induced Stockpiling
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The U.S. Department of Commerce stated on Tuesday that the U.S. international trade deficit, including goods and services, expanded by 14% in March, reaching a record $140.5 billion after seasonal adjustments. This was due to companies rushing to import foreign products before the White House imposed tariffs.
Economists surveyed by The Wall Street Journal had previously expected the U.S. trade deficit to widen from $127 billion in February to $136 billion.
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