User login

Commerce: U.S. trade deficit, U.S.-China goods trade hit record highs in 2022

February 7, 2023 at 12:29 PM
The U.S.’ annual trade deficit in 2022 grew to $948.1 billion, the highest on record, while total goods trade with China also hit a new high last year as the Biden administration continued a push to move supply chains away from Beijing, according to data released on Tuesday by the Commerce Department. The trade deficit for goods and services rose by $103 billion, or 12.2 percent, from 2021, the Census Bureau and the Bureau of Economic Analysis said in a...

Not a subscriber? You can request 30 days free access to exclusive, behind-the-scenes reporting on trade policy in the Biden era.