U.S. Trade Deficit Fell to Lowest Level Since 2009 as Tariffs Reshape Trade
The New York Times••business
Key Points:
- The U.S. trade deficit in goods and services decreased to $29.4 billion in October, down from $48.1 billion in September, marking the lowest monthly deficit since June 2009.
- The reduction in the trade deficit is attributed to a decline in imports while exports have remained strong, aligning with a key objective of the Trump administration's tariff policies.
- Economists warn that the decrease may be partly due to temporary shifts in trade of specific products such as gold and pharmaceuticals.
- Despite the October improvement, the overall trade deficit from January to October increased by 7.7 percent compared to the previous year.
