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what about the trade deficit? use this artcile to rewrite the answer : America's Trade Deficit Surged in 2022, Nearing $1 Trillion The gap between
what about the trade deficit? use this artcile to rewrite the answer : America's Trade Deficit Surged in 2022, Nearing $1 Trillion The gap between what the United States imports and what it exports hit a record as more foreign goods came into the country. Annual U.S. trade balance Note: Goods and services, seasonally adjusted, not adjusted for inflationSource: U.S. Census BureauBy The New York Times Ana Swanson By Ana Swanson Feb. 7, 2023WASHINGTON The overall U.S. trade deficit rose 12.2 percent last year, nearing $1 trillion as Americans purchased large volumes of foreign machinery, medicines, industrial supplies and car parts, according to data released Tuesday by the Commerce Department. The goods and services deficit reached $948.1 billion, its largest total on record, after rising $103 billion from the previous year. The data showed evidence of the U.S. economy's continuing recovery from the pandemic, which had held down spending on services like travel and entertainment and pushed up purchases of imported goods. Rapid inflation and higher energy prices were responsible for some of the growth, because the trade data is not adjusted for inflation. The numbers also showed signs that global supply chains appear to be reshuffling somewhat, as the U.S. government erects more barriers to trade with China and businesses seek to diversify where they get materials and goods. The Biden administration has identified the nation's reliance on China for materials like solar
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