US Trade Deficit Hits Record High: Implications and Economic Impact

The United States trade deficit soared to a record high in August, raising serious concerns about the effectiveness of economic policy and plans for improvement. According to the Department of Commerce, the deficit stood at $73.3 billion, marking the highest level since statistics began in 1980. This alarming figure has sparked concern among economists and politicians alike, especially given that the Trump administration previously promised to reduce this gap.

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