US trade gap surges to US$50b

Steel coils are unloaded from the Polish ship "Isa" at the Port of Cleveland in the United States. The US trade deficit surged in May to the highest level in more than two and a half years, driven upward by a big increase in oil imports. The Commerce Department said yesterday that the deficit increased 15.1 percent to US$50.2 billion in May. That's the largest imbalance since October 2008.

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