U.S. trade deficit in 2021 hits record $859 billion

The U.S. trade deficit in goods and services in 2021 marked the highest on record, with the trade gap widening 27 percent from the previous year to $859.13 billion, government data showed Tuesday. Exports increased 18.5 percent to $2.53 trillion on the back of recovery from the economic downturn triggered by the coronavirus pandemic. But imports also grew 20.5 percent to a record-high $3.39 trillion. The U.S. goods trade deficit with Japan increased 7.9 percent to $60.16 billion in 2021, the fifth-largest among countries with which the United States generated a trade deficit. The U.S. deficit …

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