US Trade Deficit Increases to $71.2 Billion in May

The Commerce Department reported Friday that the deficit rose 3.1% from the revised April deficit of $69.1 billion.

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A man watches as the Warnow-Dolphin container ship sails to PortMiami, Thursday, April 29, 2021, in Miami Beach, Fla. The U.S. trade deficit widened in May as $71.2 billion as a small increase in exports was offset by a bigger rise in imports.The Commerce Department reported Friday that the deficit rose 3.1% from the revised April deficit of $69.1 billion The U.S. trade deficit had hit a monthly record of $75 billion in March. (AP Photo/Marta Lavandier)
Image via AP Photo/Marta Lavandier

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

WASHINGTON (AP) — The U.S. trade deficit widened in May as $71.2 billion as a small increase in exports was offset by a bigger rise in imports. The Commerce Department reported Friday that the deficit rose 3.1% from the revised April deficit of $69.1 billion. The U.S. trade deficit had hit a monthly record of $75 billion in March. In May, exports of U.S. goods and services rose 0.6% to $206 billion. But that was…

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