The U.S. trade deficit widened in 2016 to the biggest since 2012 as exports fell more than imports, though a narrowing gap in December suggests demand is stabilizing overseas for American goods.

U.S. import prices rose in December, boosted by higher prices for petroleum products, but a strong dollar kept underlying imported inflation subdued.

The U.S. trade deficit widened to a nine-month high in November as exports fell and companies and governments imported the most since August 2015.

A drop in U.S. exports in November pushed the country's trade deficit in goods higher, while the number of Americans filing for unemployment benefits the week ended Dec.24 is a positive sign for the labor market.

China would outlast the United States in a trade war, which is a “distinct possibility” in 2017 after President-elect Donald Trump takes office, a commentator wrote in the $1 billion Pine River China Fund’s investor letter.

The U.S. trade deficit widened to a four-month high in October as overseas sales weakened and American companies imported more equipment and consumer goods

The U.S. trade deficit unexpectedly widened in August, as higher imports of capital goods and record purchases of services from abroad overshadowed a gain in exports.

The Brexit vote, the rise of Donald Trump, and shifting economic sands have fed fears that protectionist sentiment will intensify the five-year slowdown in worldwide trade.

World trade will grow more slowly than expected in 2016, expanding by just 1.7%, well below the April forecast of 2.8%, according to the latest forecast by the World Trade Organization.

Trade is likely to remain weak in the coming years, according to a report by the European Central Bank.