SILVER SPRING, Md. — The U.S. trade deficit grew to a record $71.1 billion in February as a decline in exports more than offset a slight dip in imports, with severe weather taking much of the blame from analysts, who were expecting a slightly lower gap.
The February gap between what America buys from abroad compared to what it sells abroad jumped 4.8% above the revised January deficit of $67.8 billion, the Commerce Department said Wednesday.
The coronavirus pandemic has stifled global trade for more than a year, but those barriers appear to be falling as millions of people get vaccinated and countries start easing operating restrictions for businesses.
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