US trade deficit hits $44.5 billion, biggest in 10 months
WASHINGTON (AP) — The U.S. trade deficit increased to the highest point in 10 months, driven up by a big rise in imports of oil and Chinese-made computers, cell phones and clothing.
A wider U.S. trade deficit acts as a drag on growth because it means the nation is earning less on overseas sales of U.S. exports while spending more on imported products.
Republican presidential nominee Donald Trump, seeking to tap into the economic anxiety of Americans who have seen jobs disappear in an increasingly global economy, has accused the Obama administration of failing to protect U.S. workers from unfair trade practices in China and other countries.