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US foreign trade deficit hit record high in August

A flood of Taiwanese clothing, Japanese cars and recorders, Mexican oil, and other imports helped produce the worst monthly trade deficit in American history , a $7.1 billion shortfall in August, the government reported.

The renewed American appetite for imports was apparently whetted by the effect of the strong dollar in turning many foreign goods into relative bargains and making American-made merchandise less attractive, analysts said.

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