Solid growth, low unemployment and consumers' thirst for foreign products drove imports of goods and services up 7.5% to a record US$3.1 trillion in 2018.
Shipping containers sit stacked at the Port of Oakland in Oakland, California.
And the trade gaps with China, Mexico and the European Union all jumped to all-time highs even after Washington slapped tariffs on hundreds of billions in imports from its largest trading partners. Solid growth, low unemployment and consumers’ thirst for foreign products drove imports of goods and services up 7.5% to a record US$3.1 trillion in 2018.
But soybean exports, a crucial crop across vast expanses of the country, fell 18% for the year to US$18.2 billion, amid a Chinese boycott sparked by Trump’s trade war.
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