US trade deficit rises 9.7% in May to $54.6 billion

July 02, 2020 - 8:45 am

WASHINGTON (AP) — The U.S. trade deficit rose for the third straight month in May. Both exports and imports fell as the coronavirus outbreak continued to take a toll on world commerce.

The Commerce Department said Thursday that the gap between the United States buys and what it sells abroad rose 9.7% in May to $54.6 billion, highest since December 2018. The coronavirus pandemic has devastated world trade. U.S. exports fell 4.4% in May to $144.5 billion, lowest since November 2009. Imports slid 0.9% to $199.1 billion, lowest since July 2010.

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