Commerce Secretary Gina Raimondo called for a major increase in U.S. production capacity for computer chips whose current shortages are causing global manufacturing bottlenecks, saying the push could create jobs and wean the nation off over-dependence …

The U.S. trade deficit widened to a record in March as the value of imports surged to a new high.

Gina Raimondo easily won Senate confirmation as Commerce secretary, placing the Rhode Island governor at the heart of President Joe Biden’s efforts to revive the U.S. economy and confront alleged unfair trade practices by China.

The U.S. trade deficit widened to the second-largest on record in November as merchandise imports reached a more than one-year high in the midst of the holiday shopping season, causing the shortfall in goods to climb to the highest yet.

The U.S. merchandise-trade deficit unexpectedly narrowed in September from the prior month’s record as imports declined for the first time in four months.

The U.S. economy will see a slightly deeper contraction this year but a bigger rebound in 2021 than previously forecast, according to updated estimates from the Congressional Budget Office.