Economics
U.S. Annual Trade Deficit Shrinks for First Time in Six Years
- Lower shipments from China, oil imports drive narrowing
- Overall gap remains wider than before Trump took office
Shipping containers sit stacked on a cargo ship at the Port of Los Angeles.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
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The U.S. trade deficit narrowed in 2019 from the widest in a decade, reflecting plunges in shipments from China and oil imports while giving President Donald Trump some evidence he’s delivered on pledges to reduce the gap.