Trade Gap in U.S. Narrows on Lowest Oil Imports in a Decade
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The U.S. trade gap shrank in September to a seven-month low, reflecting declining purchases of foreign fuel as the world’s largest economy continued its drive toward energy independence.
The deficit decreased 15 percent to $40.8 billion from a revised $48 billion in August, the Commerce Department reported Wednesday in Washington. The value of imported petroleum fell to the lowest level in more than a decade, and China replaced Canada as America’s top trading partner.