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  • U.S. trade deficit reaches record high

    12/14/2005 9:35:14 AM PST · by Willie Green · 61 replies · 862+ views
    The Centre Daily Times ^ | Wed, Dec. 14, 2005 | MARTIN CRUTSINGER -- Associated Press
    For education and discussion only. Not for commercial use. WASHINGTON - The U.S. trade deficit unexpectedly rose to an all-time high in October as oil shipments soared and the United States set deficit records with China, Europe, Canada and Mexico. The Commerce Department reported that the gap between what America sells overseas and what it imports rose by 4.4 percent in October to $68.9 billion, surpassing the old record of $66 billion set in September. So far this year, the trade deficit is running at an annual rate of $718 billion, far surpassing last year's $617.6 billion imbalance. Critics say...