Bidenflation: Trade Deficit Soars Over $100 Billion for the First Time Ever

The U.S. trade deficit rose an astonishing 22 percent in March to $109.8 billion as prices of oil and imported products rose due to soaring inflation, according to data released Friday by the Census Bureau and the Bureau of Economic Analysis.

The trade gap for February was revised up to $89.8 billion, making it the previous record high. January’s figure was $89.23, which was then a record high.

Economists had been expecting the deficit to hit $106.5 billion, according to Econoday.

Imports jumped 10.3 percent in March to a record $351.5 billion. The figures are not adjusted for inflation so much of the gain is likely due to higher prices and not solely caused by an increase in imports. Oil prices surged in March, contributing to the surge in nominal imports. (Read more from “Bidenflation: Trade Deficit Soars Over $100 Billion for the First Time Ever” HERE)

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