US auto imports hit all-time high
from The Detroit News
U.S. auto imports hit a new all-time high in the first half of the year — as auto production is surging in lower wage countries such as Mexico and a strong dollar is hindering American exports. The overall U.S. trade deficit rose 7.1 percent — adjusted for seasonal fluctuations — to $43.8 billion in June. Autos, which includes vehicles, parts and engines, accounted for more than one-third of the trade deficit as U.S. auto imports rose to $29.8 billion, the U.S. Census Bureau reported Aug. 5.
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