A report released by the Commerce Department on Tuesday showed the U.S. trade deficit widened in the month of March.
The Commerce Department said the trade deficit widened to $74.4 billion in March from a revised $70.5 billion in February.
The trade deficit was nearly in line with estimates, as economists had expected the deficit to widen to $74.5 billion from the $71.1 billion originally reported for the previous month.
The wider trade deficit came as the value of imports surged up by 6.3 percent to $274.5 billion, while the value of exports spiked by 6.6 percent to $200.0 billion.
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