WASHINGTON—The U.S. goods trade deficit increased by the most it has in more than a year in March as a record drop in exports offsets a shrinking import bill, suggesting the CCP virus outbreak was upending the global flow of goods and services.
The Commerce Department said on May 5 the trade deficit jumped 11.6 percent, the largest rise since December 2018, to $44.4 billion. Data for February was revised to show the trade gap tightening to $39.8 billion instead of $39.9 billion as previously reported.
