The U.S. trade deficit soared in November, nearly doubling the previous month as President Donald Trump’s widespread use and threat of tariffs have led to intense trade volatility.
The trade deficit was up nearly 95 percent in November from the prior month, or $27.6 billion, hitting $56.8 billion, according to the latest data released by the Commerce Department’s Bureau of Economic Analysis.
It was a sharp reversal from previous months, when the deficit had been shrinking and even hit its lowest level since 2009 in October.
The post Trump’s Tariff Boasts Backfire as Key Economic Measure Balloons appeared first on The Daily Beast
