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Ahmed Al Hashemi will perform at the upcoming Dubai Metro Music Festival starting on Saturday
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US trade deficit hits all-time high mark
WASHINGTON — The US trade deficit soared to an all-time high of $725.8 billion in 2005, pushed upward by record imports of oil, food, cars and other consumer goods. The deficit with China hit an all-time high as did America’s deficits with Japan, Europe, OPEC, Canada, Mexico and South and Central America.
The Commerce Department yesterday reported that the gap between what America sells abroad and what it imports rose to $725.8 billion last year, up by17.5 per cent from the previous record of $617.6 billion set in 2004.
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