91ÊÓƵ

The U.S. merchandise-trade deficit unexpectedly widened in December to a fresh record as imports continued to rise, outpacing shipments overseas.

The U.S. merchandise-trade deficit widened to a record in November as imports surged to an all-time high. The gap increased to $97.8 billion last month from a revised $83.2 billion in October, according to Commerce Department data released Dec. 29.

President Joe Biden’s proposed incentives for U.S. electric-car buyers could be challenged under the North American trade pact, a Canadian auto industry leader warned.

The Biden administration is weighing a new investigation into Chinese subsidies and their damage to the U.S. economy as a way to pressure Beijing on trade, people familiar with the matter said.

The U.S. trade gap widened in May to the second-largest on record as imports increased faster than exports.

The Biden administration should take a different approach to trade than that of its predecessor to help improve the U.S. economy, a key European Commission trade official said.

The U.S. merchandise-trade deficit widened more than forecast in May as the value of imports rose to near-record levels and exports declined.

Both the improved trade activ­ity and a promising future for the USMCA are favorable developments for trucking because 80% of cross-border trade moves via truck.

The U.S. merchandise-trade deficit unexpectedly narrowed in September from the prior month’s record as imports declined for the first time in four months.

Global trade is on course to recover more quickly from the coronavirus pandemic than after the 2008 financial crisis, according to Germany’s Kiel Institute for the World Economy.