US trade gap shrinks to smallest since 2009 as imports fall
Summary
The US trade deficit dropped to $29.4 billion in October, its smallest since 2009, as imports fell by 3.2 percent amid the impact of President Trump's tariffs.
Key Points
- The US trade deficit shrank 39 percent in October to $29.4 billion, the lowest since 2009.
- Imports declined by 3.2 percent, notably in consumer goods and pharmaceuticals.
- US exports rose by $7.8 billion to reach $302 billion in October.
- Trump's tariff policies significantly influenced trade flows, with some exemptions and ongoing legal challenges.
