Last week, data indicated that the US trade deficit surged to a record $131.4bn in January, as businesses scrambled to stockpile goods ahead of President Donald Trump’s Schrodinger’s tariffs.
American economic data has generally been disappointing, but the worsening news on imports has in particular stirred up some angst. Because of the mechanics of how gross domestic product is measured and calculated (imports are subtracted as the point is to avoid double-counting and to measure…
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