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US Trade Deficit Narrows Most on Record on Muted China Imports

  • Gap in goods and services narrowed $20.6 billion, or 19.1%
  • Deficit with China dropped by $8.5 billion, most since 2015
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The US trade deficit shrunk in April by the most on record in dollar terms, reflecting a drop in the value of imports amid Covid lockdowns in China while exports climbed.

The gap in goods and services trade narrowed $20.6 billion, or 19.1%, to $87.1 billion, Commerce Department data showed Tuesday. The median estimate in a Bloomberg survey of economists called for an $89.5 billion deficit. The figures aren’t adjusted for inflation.