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US trade deficit hits 10-year high; private hiring slows


  • Economy
  • Thursday, 6 Dec 2018

President Donald Trump has long railed against China's trade surplus with the United States, and accuses Beijing of not playing fairly on trade.

President Donald Trump has long railed against China's trade surplus with the United States, and accuses Beijing of not playing fairly on trade.

WASHINGTON:  The U.S. trade deficit jumped to a 10-year high in October as soybean exports dropped further and imports of consumer goods rose to a record high, suggesting the Trump administration's tariff-related measures to shrink the trade gap likely have been ineffective.

Other data on Thursday showed private employers hired fewer workers than expected in November, pointing to a moderation in the pace of job growth. That was reinforced by another report showing a small decline in the number of Americans filing claims for unemployment benefits last week.

Economy

   

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