US trade deficit rises to near 9½-year high

The Commerce Department said the trade gap rose 1.6 percent to $57.6 billion. That was the highest level since October 2008. Part of the rise in the trade deficit in February reflected commodity price increases. The U.S. trade deficit increased to a near 9½-year high in February as both exports and imports rose to record highs, but the shortfall with […]

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China's vice finance minister dismisses talk of selling US Treasurys in response to tariffs

China’s government is not considering reducing its U.S. Treasury bond holdings anytime soon, Vice Finance Minister Zhu Guangyao told CNBC Wednesday. Some market watchers have voiced fears that Beijing could reduce its Treasury purchases in response to the White House’s trade tariffs, which would send interest rates soaring. China is the largest foreign holder of U.S. debt, which is rapidly […]

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Steve Odland: Tariffs will have ‘terrible consequences’ for consumers

The Trump administration has announced a series of tariffs in the past weeks, including ones against China. Major retailers and trade associations are imploring the Trump administration to refrain from imposing tariffs that will raise the price of goods for American consumers and trigger international retaliation. The overarching message from industry must be: When the U.S. engages openly in free […]

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