The U.S. trade deficit hit close to record levels in 2022, nearing a total of $1 trillion. American consumers continued to spend heavily on foreign-made goods last year, widening the overall trade deficit even further by 12.2 percent, or $103 billion, in 2021. As of the beginning of the year, the goods and services deficit now…

Commentary The U.S. trade deficit hit an all-time high in March, reaching $74.4 billion, as Americans spent their stimulus checks on foreign-made goods but were limited in their ability to spend their money on nearby entertainment options such as restaurants, bars, amusement parks and sporting venues, many of which were still closed in March. The…