The U.S. trade deficit in goods jumped to end 2018 amid a jump in imports, a move that could cause fourth-quarter economic growth measures to be lowered.
The U.S. trade deficit in goods jumped to end 2018 amid a jump in imports, a move that could cause fourth-quarter economic growth measures to be lowered, according an advanced look from the Census Bureau on Wednesday. December saw a $79.5 billion goods deficit, up 12.8 percent from the $70.5 billion in November. The move came amid a $4 billion decline in exports, to $135.7 billion, and a $5 billion increase in imports, to $215.2 billion. The Census report does not include services.
The White House and China are in the middle of negotiations aimed at beating a March 1 deadline after which more aggressive tariffs could take effect. Trump, however, said it's unlikely the U.S. would amp up the tariffs if the deadline isn't met. Wednesday's numbers could lead economists to trim their estimates for fourth-quarter GDP. Expectations currently are for growth to come in around 1.
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