US trade gap with China widens by 7.3pc to US$27.9b in May

Business | 2 Jul 2020 9:43 pm

The US trade deficit climbed for the third straight month in May. Exports and imports fell as the coronavirus outbreak continued to take a toll on world commerce.

The Commerce Department said Thursday that the gap between the goods and services the United States buys and what it sells abroad grew by 9.7 percent in May to US$54.6 billion, highest since December 2018.

The politically sensitive deficit in the trade of goods with China increased by 7.3 percent to US$27.9 billion in May.

The coronavirus pandemic has devastated world trade. U.S. exports fell by 4.4 percent in May to US$144.5 billion, lowest since November 2009. Imports slid by 0.9 percent to US$199.1 billion, lowest since July 2010.-AP

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