Trump dealt blow as US trade deficit jumps

US President Donald TrumpImage copyright Getty Images

The US trade gap with the rest of the world widened to $621bn (£472.5bn) last year, dealing a blow to President Donald Trump’s deficit reduction plan.

The trade deficit is the difference between how much goods and services the US imports from other countries and how much it exports.

Reducing the gap is a key plank of Mr Trump’s policies. He claims that the US is being “ripped off” by other nations.

However, 2018’s deficit is higher than the $552.3bn recorded in 2017.

Mr Trump has expressed frustration at countries such as China for charging higher tariffs on US goods that it buys, as well as providing state support to industries which allows them to sell their product overseas at lower prices.

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