American appetites for all things foreign, from oil to cars to clothing, pushed the trade deficit to yet another record in 2005.
And the year's $201.6 billion US deficit with China, the largest ever recorded with a single country, brought demands for a crackdown on what the U.S. sees as unfair trade practices. The U.S. Commerce Department reported Friday that the overall trade gap climbed to an all-time high of $725.8 billion last year. The deficit was up 17.5 per cent from 2004, marking the fourth straight record...The U.S. foreign oil bill soared to a record $251.6 billion, up 39.4 per cent from 2004.
And the year's $201.6 billion US deficit with China, the largest ever recorded with a single country, brought demands for a crackdown on what the U.S. sees as unfair trade practices. The U.S. Commerce Department reported Friday that the overall trade gap climbed to an all-time high of $725.8 billion last year. The deficit was up 17.5 per cent from 2004, marking the fourth straight record...The U.S. foreign oil bill soared to a record $251.6 billion, up 39.4 per cent from 2004.