Trade Deficit Grew to Record $71.1 Billion Biden’s First Full Month in Office

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The U.S.’s trade deficit widened 4.8 per­cent to a record $71.1 bil­lion in Feb­ru­ary, the Com­merce Depart­ment said Wednesday.
Econ­o­mists had fore­cast a trade gap of $70.4 bil­lion. The Jan­u­ary gap was revised down from $68.2 bil­lion to $67.8 billion.
Both imports and exports fell in the month but the pace of the decline of exports was much swifter, enlarg­ing the deficit. Imports fell sev­en-tenths of a per­cent­age point but remain near record highs. Exports fell 2.6 percent.
The trade in goods deficit rose by $2.8 bil­lion to $88 bil­lion. The ser­vices sur­plus shrank $500,000 mil­lion to $16.9 billion.
U.S. exports have been hurt by the return …

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