World Economy

US Trade Gap Expands

US Trade Gap ExpandsUS Trade Gap Expands

The US trade deficit expanded in August as growth in imports, including Olympic broadcast rights and crude oil, outpaced the gain in exports, Nasdaq reported. The trade gap increased 3% from a month earlier to a seasonally adjusted $40.73 billion in August, the Commerce Department said Wednesday. Imports rose 1.2% while exports rose 0.8%. Of the $2.6 billion overall increase in imports during the month, $1.2 billion came from charges for the use of intellectual property, reflecting payments to broadcast the 2016 Summer Olympic Games, the Commerce Department said.


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