Imports | featured news

The U.S. trade deficit expanded in November to its widest point in seven months, driven by a surge in imports that outpaced modest growth in exports.

The union for longshoremen along the East Coast and Gulf of Mexico has agreed to extend its contract for 30 days, averting a possible strike that could have crippled operations at ports that handle about 40 percent of all U.S. container cargo, a federal mediator announced Friday.

China's imports shrank unexpectedly in August in a sign its economic slump is worsening and the Chinese president warned growth could slow further, prompting expectations of possible new stimulus spending.

Import prices fell last month by the most in more than three years mostly due to a plunge in the cost of imported oil, further icing inflation pressures... The decline last month was even more than analysts had expected, and could give the U.S. Federal Reserve more scope to ease monetary policy if policymakers think the economy needs it.

The U.S. trade deficit narrowed in October to its lowest point of the year as Americans bought fewer foreign cars and imported less oil. Exports of American-made autos also fell.

The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven upward by a big increase in oil imports.

American companies sold more computers, heavy machinery and telecommunications equipment in foreign markets in April, pushing exports to a record high. Imports declined, reflecting a big drop in auto imports from Japan caused by supply disruptions from the March earthquake and tsunami.

U.S. industry and senior Democrats ratcheted up pressure on Congress on Wednesday for a tough new trade law to punish China for what they see as an undervalued currency that threatens American jobs and profits.

Economic growth likely slowed in the second quarter as a capital investment drive by businesses was sated by imports and consumer spending tapered off, a government report is expected to show on Friday.

The U.S. trade deficit widened more than expected in February as a small gain in exports to the highest level in 16 months was offset by a bigger jump in imports, reflecting increased demand for consumer goods from televisions to clothing.