Record Imports in October Push Up Nation's Trade Deficit to Highest Level Since January

Record imports lifted the U.S. trade deficit to $48.7 billion in October, highest since January.The Commerce Department said Tuesday that the trade gap rose 8.6 percent in October from $44.9 billion in September. Imports hit a record $244.6 billion in October, and exports were unchanged at $195.9 billion.A trade deficit means that the United States is buying more goods and services from other countries than it is selling them. A rising trade gap reduces U.S. economic growth.  Continue reading...