Trade, 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 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.

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.

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.

The World Trade Organization's top arbitrators upheld a ruling that China is illegally restricting imports of U.S. music, films and books, and Washington pushed forward with a new case accusing China of manipulating the prices for key ingredients in steel and aluminum production.