The deficit was $58.9 billion in October. It fell 8.4 percent.

The U.S. trade deficit with China widened to a record $24.4 billion in October from $20.4 billion in the same month last year and $22.3 billion in September.

Imports from that asian country surged to US$29.3 billion, also a record.

The trade gap with China rose to $190.6 billion in the first ten months of the year, up from $166.8 billion in the same period last year.

The administration is dispatching a delegation of seven Cabinet members to Beijing this week for talks on China’s currency system and other trade practices Americans see as unfair.

The deficit with China is running at an annual rate of $229 billion, far above last year’s $202 billion deficit, which had been an all-time high for any country.

The deficit with Japan totaled 8.3 billion dollars in October, the second highest imbalance ever with the country.

America’s trade deficit with Canada fell by 4.8 percent to 5.4 billion dollars while the deficit with Mexico dropped 11.3 percent to 5.2 billion dollars. The deficit with the 25-nation European Union shot up 34.3 percent to 9.5 billion dollars.

Be Sociable, Share!