Deficit, April
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Americans bought fewer foreign pharmaceuticals, cellphones and cars, and cut purchases of machinery and other supplies.
The U.S. trade deficit narrowed sharply in April, with imports decreasing by the most on record as the front-running of goods ahead of tariffs ebbed, which could provide a lift to economic growth this quarter.
The U.S. international trade deficit narrowed 55.5% in April to $61.6 billion, the Commerce Department said Thursday. Economists surveyed by The Wall Street Journal had predicted the deficit would narrow to a seasonally adjusted $63.
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Sourcing Journal on MSNUS Trade Deficit Contracted in April Amid Tariff-Driven Import ParalysisThe U.S. trade deficit with countries across the globe fell sharply in April following tariff announcements that stalled imports.
The European Union's goods trade surplus with the United States expanded in April even after U.S. tariffs, data released on Friday showed, while the bloc's exports to China dropped for a ninth consecutive month.
The US trade deficit narrowed in April by the most on record on the largest-ever plunge in imports, illustrating an abrupt end to the massive front-loading of goods by some companies ahead of higher tariffs.