U.S. trade deficit reached a new high in March when U.S. consumers. With a stimulus package of $ 1,400 distributed and the domestic economy continuing to show substantial growth has led to imbalances in imports and exports until the trade deficit widened to $ 74.4 billion.
This level is the highest level since January 1992 and shows an increase of 57.6% from the same period last year and higher than $ 70.5 billion in February.
The trade imbalance with China increased more than 22% to $ 36.9 billion. The deficit with Mexico increased 23.5% to $ 8.4 billion. This can to some extent affect geopolitical relations.
Pandemic relief has driven an increase in consumer spending. Exports increased by $ 200 billion or 6.6% but were offset by continued demand for imported goods, which increased 6.3% or $ 274.5 billion.
According to analysts, when the pandemic spread is under control in the United States, American consumers will spend more on export goods than on imported goods.
The US dollar index, which measures the greenback against other currencies, was strong by 0.27% to the exchange rate of 91.172 as of 11.00 p.m.
