According to a new report for the first time ever the U.S. trade deficit has now surpassed one trillion dollars.
The Details: Throughout 2021 the trade disparity in goods rose to 1.08 Trillion dollars, a number which increased from the $893.5 billion seen the previous year.
The deficit increased by three percent in December, the biggest increase on record.
The common explanation for the major deficit increase has been the large, debt fueled, rebound experienced by the U.S. economy. Which has enabled its consumers to vastly increase their appetite for foreign made goods.