U.S. trade deficit hits more than nine-year high as exports falter
The U.S. trade deficit increased to a more than nine-year high in January, with the shortfall with China widening sharply, suggesting that President Donald Trump’s “America First” trade policies are unlikely to have a material impact on the deficit. The trade deficit continues to widen a year into the Trump presidency. Trump, who claims that the United States is being taken advantage of by its trading partners, has imposed tariffs on imports of some goods to shield domestic industries. The protectionist measures have sparked fears of a trade war.