- April 28, 2022
- Posted by: Stratford Team
- Category: Economy
Importers and exporters have faced a litany of supply chain challenges over the past two years, as companies attempted to cram record volumes of consumer goods through ports.Credit…Coley Brown for The New York Times
Consumers and businesses in the United States are continuing to buy far more foreign goods than America exports overseas, resulting in an ever-widening trade deficit that weighed on economic growth figures released Thursday.
Demand by American businesses for foreign petroleum and other industrial products surged in March, while households bought more foreign cars and other consumer products, an estimate of trade data released by the Census Bureau on Wednesday showed.
U.S. exports also hit a record in March of $169.3 billion, but they were far outpaced by imports, which reached $294.6 billion. As a result, the trade deficit in goods widened nearly 18 percent to $125.3 billion last month, a record figure.
Those trade flows depressed America’s…
