US Trade Deficit Highest Since 2012

The US trade deficit narrowed slightly in December, but the improvement wasn’t enough to keep the deficit for the entire year from rising to the highest level since 2012. That should provide fuel for President Donald Trump’s contention that America needs a tougher approach to trade, AP reported. The deficit in December fell 3.2% to $44.2 billion, the Commerce Department reported Tuesday. A gain in exports of commercial aircraft, heavy machinery and autos offset a rise in imports. For the whole year, the deficit rose 0.4% to $502.3 billion, the highest annual imbalance since 2012.