The U.S. trade deficit in goods climbed 5.5% in November to a new record of $84.8 billion, reflecting weaker U.S. exports due to the coronavirus pandemic.
The trade gap in goods was revised to $80.4 billion in October.
The government said goods imports rose 2.6% to $212 billion, outpacing a less than 1% increase in U.S. exports. Goods exports totaled $127.2 billion.
The U.S. is actually importing more foreign-made goods than it was one year ago because the economy has recovered more strongly from the pandemic than other countries.
Yet exports have lagged owing largely for the very same reason.