U.S. Trade Deficit Takes Downward Turn

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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