The US trade deficit in goods narrowed sharply in April, according to the Census Bureau, dropping from a record high of $162.3bn in March to $87.6bn, marking the smallest monthly trade gap in 18 months.
Source: Sharecast
The marked improvement seen in the preliminary reading was principally due to a 19.8% decline in imports, more than reversing the 5.7% uptick seen in March as companies tried to get ahead of Trump's so-called "reciprocal" tariffs.
Elsewhere, exports rose 3.4% in April following a 2.3% uptick in March.
Reporting by Iain Gilbert at Sharecast.com
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