From Holden:

The hits just keep coming.

The US trade deficit widened to a record $68.5bn in January, with exporters unable to match the blistering pace of import growth.

The deficit was up $3.4bn on the previous month. The politically sensitive bilateral deficit with China accounted for much of the deterioration, with the shortfall increasing from $16.3bn to $17.9bn.

Overall, exports grew by $2.8bn to $114.4bn but imports far outpaced this rising $6.2bn to $182.9bn.