The U.S. trade deficit shrank in April by the most on record in dollar terms, reflecting a drop in the value of imports amid COVID lockdowns in China while exports climbed.
According to Commerce Department data, the trade deficit dropped 19.1%, the largest decline since December 2012, to $87.1 billion.
Data for March was revised to show the trade deficit deteriorating to a record high of $107.7 billion instead of the previously reported $109.8 billion.
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Yvad Billings Readers Bureau, Contributor
Edited by Jesus Chan
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