U.S. trade deficit rose to 10-year high in 2018, government reports

March 6, 2019

The U.S. trade deficit grew to $621 billion last year, its highest level since 2008, the Commerce Department reported Wednesday.

While President Trump has made reducing trade deficits a key part of his agenda, the trade gap in goods rose to an all-time high of $891.3 billion, including record deficits with China, Mexico and Europe.

The deficit with China in 2018 rose to $419.2 billion in goods, up almost 12 percent from the previous year. Mr. Trump is expected to meet with Chinese President Xi Jinping later this month in Florida to finalize a trade deal and potentially conclude a tariff war with Beijing.