Trade, U.s. Trade Deficit | featured news

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.

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 government says the trade deficit surged to a larger-than-expected $40.18 billion in December, the biggest imbalance in 12 months.