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U.S. current account deficit surges to 14-year high – no thanks to record trade gap

·2 min read
U.S. current account deficit surges to 14-year high – no thanks to record trade gap

A measure of the nation’s debt to other countries surged by almost 12% in the first quarter to the highest level in 14 years largely because of record U.S. trade deficits during the pandemic.