With the value of imports increasing by slightly more than the value of exports, the Commerce Department released a report on Tuesday showing the U.S. trade deficit widened modestly in the month of December.
The Commerce Department said the trade deficit widened to $80.7 billion in December from a revised $79.3 billion in November. The trade deficit in December was just shy of the record $80.8 billion set in September.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.