.jpg)
1 hour ago
4
Article content
(Bloomberg) — The US trade deficit widened in November from the lowest level since 2009 as imports rebounded and exports fell, highlighting wide monthly swings in response to the Trump administration’s vacillating tariffs.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The goods and services trade gap nearly doubled from the prior month to $56.8 billion, Commerce Department data showed Thursday. The median estimate in a Bloomberg survey of economists was for a $44 billion deficit.
Article content
Article content
Article content
The trade data have been prone to volatility related to the implementation of US trade policy. In recent months, there’s been a surge in trade of non-monetary gold and pharmaceutical preparations in response to President Donald Trump’s tariff announcements.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
That was the case again in November, with a surge in inbound shipments of pharmaceuticals and a slide in gold exports. Overall imports increased 5%, also boosted by capital goods, such as computers and semiconductors.
Article content
The value of all US goods and services exports fell 3.6% in November. The figures aren’t adjusted for inflation.
Article content
Despite the widening in November, the trade deficit remains generally smaller than in recent years. A narrower gap is a key priority of the Trump administration.
Article content
The latest trade data will help economists firm up their estimates for fourth-quarter gross domestic product. Before the figures, the Federal Reserve Bank of Atlanta’s GDPNow forecast net exports would add 1.88 percentage points to fourth-quarter growth.
Article content
On an inflation-adjusted basis, which filters into the real GDP measurement, the merchandise trade deficit widened to $87.1 billion in November, the largest in four months. Trade in gold, unless used for industrial purposes such as in the production of jewelry, is excluded from the government’s GDP calculation.
Article content
The deficits with China and Canada widened in the latest month, while the shortfall with Mexico narrowed slightly.
Article content
The Commerce Department’s trade report was delayed because of the federal government shutdown last year.
Article content
Separate data out Thursday showed little change in initial applications for unemployment benefits last week. Continuing claims slipped in the previous week to the lowest since September 2024.
Article content
English (US)