Published on The Asian Age, May 10, 2007.
Washington: The trade deficit shot up in March to the highest level in six months, driven by a big jump in imported oil. The politically sensitive deficit with China shrank as US exports to that country hit an all-time high.
The Commerce Department reported on Thursday that the gap between what the United States imports and what it sells to the rest of the world rose to $63.9 billion in March, up 10.4 percent from the February level (AP). (full text).