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U.S. Trade Deficit Rises 3.1% in May to US$71.2 Billion

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The deficit in U.S. foreign trade in goods and services rose by 3.1% in May to $71.2 billion, compared to one of $69.1 billion in the prior month, the Commerce Department reported on Friday.

The value of exports rose 0.6 %, from $204.99 billion in April to $206 billion in May. while the value of imports rose 1.3 %, from $273.89 billion in April to $277.3 billion in the same month.

From January to May, the United States has accumulated in its foreign trade of goods a deficit of $350.07 billion, compared to a deficit of $242.122 billion in the same period of the previous year when former President Trump was still in office.

The U.S. goods trade deficit with China increased from $25.83 billion in April to $26.321 billion in May, and so far this year totals $130.705 billion.

The negative balance with the European Union went from 17.917 billion dollars in April to 17.599 billion dollars in May, for a cumulative total of 86.150 billion dollars in the first five months of the year.

The deficit with Mexico fell from 9.619 billion dollars in April to 8.571 billion dollars in May, and totaled 44.020 billion dollars between January and May.