US trade deficit rises to 5-month high of $55.5 billion

WASHINGTON — The U.S. trade deficit rose to a five-month high in May as the politically sensitive imbalances with China and Mexico widened.

The Commerce Department said Wednesday that the gap between the goods and services the U.S. sells and what it buys from foreign countries rose 8.4% to $55.5 billion in May, the highest since December. Exports increased 2% to $210.6 billion on rising shipments of soybeans, aircraft and cars. But imports climbed more — 3.3% to $266.2 billion — on an increase in crude oil and cellphones.

The deficit in the trade of goods with Mexico rose 18.1% to a record $9.6 billion. The goods gap with China widened 12.2% to $30.2 billion.

President Donald Trump has sought to reduce America’s persistent trade deficit, which he sees as a sign of economic weakness and the result of bad trade agreements crafted by naive U.S. negotiators. He has slapped tariffs on foreign steel, aluminum, dishwashers, solar panels and on thousands of Chinese goods. He also has renegotiated a trade pact with Canada and Mexico that awaits approval by Congress.

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