US trade deficit widens, Spring Gala performances, Merz visit

The US trade deficit widened sharply in December and the annual goods trade deficit rose by 2.1 per cent year on year to a record US$1.24 trillion in 2025, despite the widespread imposition of tariffs, US Commerce Department data showed. The goods trade deficit with China fell to a 21-year low. The gap between US exports and imports of goods and services hit US$70.3 billion in December, up 32.6 per cent from November, contributing to a full-year deficit of US$901.5 billion, down just 0.2 per...