Trade deficit in October hits smallest since 2009 after Trump's tariff moves
CNBC••business
Key Points:
- The U.S. trade deficit in October dropped to $29.4 billion, the lowest level since mid-2009, with exports rising 2.6% and imports falling 3.2%, according to the Commerce Department.
- This decline follows six months of tariffs imposed by President Trump starting in April 2025, which have curbed imports while maintaining strong demand for U.S. products abroad, despite initial concerns about retaliation and trade disruptions.
- Year-to-date, the trade deficit remains 7.7% higher than in 2024, but the narrowing gap is expected to boost fourth-quarter economic growth, which had been impacted by the federal government shutdown.
- Productivity rose 4.9% in the third
