The nation’s foreign trade deficit rose sharply.
The Commerce Department reported that the deficit increased to $30 billion in the first quarter of 1985. Commerce said the deficit for the quarter, however, was below the record $32.9 billion in the third quarter of 1984 but well above the revised $25.5 billion for the fourth quarter of last year. The 1984 total was a record $101.6 billion, more than double the $41.6 billion in 1983. Commerce Secretary Malcolm Baldrige and private analysts have said the deficit is likely to increase even more for the entire 1985 year.