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Hormats Says U.S. Oil Imports Contributing to Trade Deficit
Robert Hormats, vice chairman of Goldman Sachs International, talks with Bloomberg's Kathleen Hays in New York about the U.S. trade deficit, U.S.-China trade relations and his new book "The Price of Liberty: Paying for America's Wars," that offers an historic review of funding of wars by the U.S. The trade deficit widened more than forecast in March as higher oil shipments drove the biggest increase in imports in more than four years. The deficit rose 10.4 percent to $63.9 billion, the Commerce Department said today in Washington. (Source: Bloomberg)
Bloomberg | May 10, 2007
