07-June-2025
Economy News
 
US trade deficit sharply narrows in April as Trump tariffs take hold
06-Jun-2025

The US trade deficit more than halved in April, government data showed Thursday, pulling back from a record on a plunge in imports as President Donald Trump's global tariffs kicked in. The world's biggest economy logged a trade gap of $61.6 billion in the same month that Trump unveiled 10 percent levies on almost all trading partners. This was down by 55.5 percent from March, said the Commerce Department. In March, the overall US trade deficit widened to a new record of $138.3 billion as businesses sought to get ahead of Trump's promised duties.

News Source:- https://economictimes.indiatimes.com/news/international/world-news/us-trade-deficit-sharply-narrows-in-april-as-trump-tariffs-take-hold/articleshow/121650648.cms