Mubasher: The US trade deficit increased 8.6% in October due to rising oil prices and the increasing deficits with China and Mexico.
Although American exports to China and Mexico were the strongest in more than three years, the deficit reached a nine-month high.
On Tuesday, the US Department of Commerce said that the trade balance deficit reached $48.7 billion, the highest level since January.
US-China trade deficit increased 1.7% to $35.2 billion, while the deficit with Mexico surged 15.9% to $6.6 billion.
