US trade deficit hits record high in March

By Gokhan Ergocun

ISTANBUL (AA) - The US foreign trade deficit rose 14% month-on-month in March to $140.5 billion, hitting an all-time high, the US Commerce Department said Tuesday.

In February, the foreign trade deficit was $123.2 billion.

Market expectations for the foreign trade deficit, which rose to a record high in March, were $136.8 billion.

The country's exports climbed 0.2% in March from the previous month, reaching a record high of $278.5 billion.

Imports rose 4.4% in the same period, reaching $419 billion, also an all-time high.

Some analysts have said that more imports are coming in with the expectation that higher US tariffs on imported goods will soon be imposed.