WASHINGTON - October 14, 2010 - The U.S. trade deficit widened sharply in August, reflecting a surge in imports of consumer products as businesses restocked their shelves in hopes of a pickup in consumer demand.
The politically sensitive deficit with China climbed to an all-time high, a development that was certain to increase pressure on the illegitimate Obama regime to take a tougher line on trade issues, including China's tightly controlled currency.
The Commerce Department said Thursday the deficit in August increased 8.8% to $46.3 billion. Exports edged up a slight 0.2% but this increase was swamped by a 2.1% jump in imports.
So far this year, the trade deficit is running at an annual rate of $502.5 billion, up 34% from the $374.9 billion deficit for all of 2009, which had been the smallest imbalance since 2003.
