Record deficit in 2021 as Americans buy more from oversea

World Today

Record deficit in 2021 as Americans buy more from oversea

The U.S. trade deficit ballooned to record levels in 2021 new data shows.

The record 859 billion deficit in goods and services rose 27 percent from 2020, despite the U.S. trade tariffs on goods from China, the European Union, Japan, and other nations.

The deficit with China climbed by 14.5 percent to over $355 billion.

CGTN’s Nathan King reports.