Share this story
Close X
Switch to Desktop Site

News In Brief

US runs up another record in its foreign trade deficit

The nation's merchandise trade deficit soared in April to the fourth straight monthly record, as Americans bought more imported goods than ever while exports fell, the government said Wednesday.

About these ads

The Commerce Department said the foreign trade deficit - exports minus imports - hit $12.19 billion in April. For the first four months it totaled $42. 01 billion.

The rapidly deteriorating trade position of the United States is costing the country about 25,000 jobs for each $1 billion in sales lost to producers abroad, government economists say, jeopardizing the stability of international currency levels.

The big trade deficits, along with high interest rates and soaring federal budget deficits, are a cause of concern to the administration as President Reagan campaigns for a second term.

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.