US Trade Deficit Surges to $56.8 Billion in November

The United States trade deficit surged in November to $56.8 billion, nearly doubling from the previous month's figure and marking the largest monthly increase in nearly 34 years, according to data released Thursday by the Commerce Department's Bureau of Economic Analysis.

The widening gap reflected a 5 percent rise in imports to $348.9 billion, driven by higher purchases of pharmaceuticals, capital goods such as computers and semiconductors, and consumer goods. Exports, meanwhile, declined 3.6 percent to $292.1 billion, with notable drops in shipments of industrial supplies including nonmonetary gold and crude oil, as well as pharmaceutical preparations. The goods trade deficit alone expanded 47.3 percent to $86.9 billion. Economists had anticipated an increase, but the actual figure exceeded projections, which averaged around $42 billion to $44 billion.

This sharp reversal came after the trade deficit had narrowed to $29.2 billion in October, its lowest level since 2009. That earlier decline had been attributed partly to temporary fluctuations in trade for items like gold and pharmaceuticals, influenced by shifting tariff policies. President Donald Trump highlighted the October...