US Trade Gap Widens
(Washington/Tire Review) The Associated Press has reported that the US trade deficit in 2004 hit a massive $665.9 billion – the largest in history, and 25.5 per cent higher than the previous record shortfall of $530.7 billion posted in 2003. The Commerce Department trade report noted that the trade deficit worsened as 2004 progressed, hitting $187.9 billion in the fourth quarter alone. That figure was a full 13.3 per cent higher than the third quarter of 2004.
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