The US imported $231.1 billion in November, a 1.1 per cent increase from a month prior, according to the US Department of Commerce. Meanwhile, US exports in November fell 0.2 per cent month over month to $185.8 billion.
The stronger US dollar has made US products more expensive for foreign markets, American Shipper reported.
"The dollar, already at 14-year highs, is expected to rise another 6 per cent this year in response to diverging monetary policies between the Fed and global central banks," BMO Capital Markets Senior Economist Sal Guatieri said in the latest North American Outlook report.
October's trade deficit was revised down slightly to $42.4 billion from the previously reported $42.6 billion.
The stronger US dollar has made US products more expensive for foreign markets, American Shipper reported.
"The dollar, already at 14-year highs, is expected to rise another 6 per cent this year in response to diverging monetary policies between the Fed and global central banks," BMO Capital Markets Senior Economist Sal Guatieri said in the latest North American Outlook report.
October's trade deficit was revised down slightly to $42.4 billion from the previously reported $42.6 billion.