ICYMI: Record Exports Spurs Shrinking U.S. Trade Deficit

Record exports cut US trade deficit to $49 billion
AP
Paul Wiseman
May 3, 2018

"Record exports trimmed the U.S. trade deficit in March, the first drop in seven months in a massive gap that President Donald Trump is determined to shrink with an aggressive America first policy.

"The Commerce Department says the trade deficit — the difference between what America sells and what it buys in foreign markets — slid to $49 billion, down from $57.7 billion in February and lowest since September.

"Trump has vowed to bring down America's massive deficits, which he blames on bad trade agreements and abusive practices by U.S. trading partners.

"Exports rose in March to a record $208.5 billion, led by shipments of civilian aircraft and soybeans. Imports slipped 1.8 percent to $257.5 billion.
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"The trade gap has continued to rise since Trump entered the White House partly because the U.S. economy is strong and American consumers have an appetite for imported products and the confidence and financial wherewithal to buy them."
 

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