US TRADE DEFICIT RISES 17.7% IN 2020 TO $679 BILLION, HIGHEST SINCE 2008

Highlights

• The Commerce Department said that the difference between the value of the goods and services the US sells abroad and what it purchases jumped from $577 billion in 2019

• The impact of tax policies imposed by the former US President Donald Trump to narrow the difference was immediately visible as the gap narrowed slightly in 2019

• The deficit with China in the sale of goods slumped 10 p....