U.S. trade deficit widened by more than 10% in December
The U.S. trade deficit in 2022 rose to an all-time high for the third year in a row, largely because of higher oil prices and Americans’ strong appetite for new cars, cell phones and other consumer goods.
The U.S. has run large trade deficits for years and it’s usually doesn’t have much impact on the economy’s performance. Yet some big ups and downs in the trade gap last year also produced large swings in gross domestic product.Big picture: The U.S. trade deficit surged again in 2022 chiefly for three reasons: Rising inflation, a huge spurt in oil prices and strong demand for imported goods.
Other countries recovered more slowly than the U.S., and hammered by a strong dollar and rising inflation, they could not afford to buy as many American exports.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gartner Says Top 10 Semiconductor Buyers Decreased Chip Spending by 7.6% in 2022The top 10 global original equipment manufacturers (OEMs) decreased their chip spending by 7.6% and accounted for 37.2% of the total market in 2022, according to preliminary results by Gartner, Inc. Global inflation and recession pressures sharply weakened demand for PCs and smartphones in 2022, impacting global OEMs production.
Read more »
Shark bites tied for 10-year low in 2022 but spiked in regional hotspotsThe number of unprovoked shark attacks worldwide decreased last year, tying with 2020 for the fewest number of reported incidents in the last 10 years. According to the University of Florida's International Shark Attack File, there were a total of 57 unprovoked bites in 2022, most of which occurred in the United States and Australia. Of these, five attacks were fatal, down from nine deaths in 2021 and 10 the year prior.
Read more »
USDA Proposes New Sugar, Salt Limits in School MealsAdded sugars in school meals would need to be less than 10% of calories per meal by 2027. Reductions in sodium would be phased in. Salt in school breakfasts would need to be cut by 10% in 2025 and another 10% in 2027. Sodium in lunches would need to be cut 10% in 2025, 2027, and 2029.
Read more »
Apple's 10th Generation iPad is discounted for the first time in 2023Apple's late 2022-released iPad 10 is on sale at a cool $50 discount for the first time this year at Best Buy in all variants and colors.
Read more »
Pelicans put end to 10-game skid with 'gutsy win' over LakersTrey Murphy III and the New Orleans Pelicans put a relieving end to a 10-game losing streak on Saturday night, authoring a 131-126 victory over the Los Angeles Lakers at the Smoothie King Center.
Read more »
Bishop helps No. 10 Texas rally past No. 7 K-State, 69-66Bishop poured in 14 points after the break to lead the Longhorns' comeback, including the go-ahead lay-in with 37 seconds to go, and the new Big 12 leaders held on for a 69-66 victory over the No. 7 Wildcats on Saturday.
Read more »