U.S. Trade Deficit At Highest Level Since January
Saturday, June 3rd, 2017 -- 8:26 AM
The U.S. trade deficit rose in April to the highest level since January. The politically sensitive trade gap with China registered a sharp increase.The Associated Press reports that the Commerce Department says the U.S. trade gap in goods and services climbed 5.2 percent to $47.6 billion in April from March. Exports dropped 0.3 percent to $191 billion, pulled down by a drop in automotive exports. Imports rose 0.8 percent to $238.6 billion. The deficit in goods with China rose by 12.4 percent to $27.6 billion in April.
So far this year, the trade deficit is up 13.4 percent from a year earlier to $186.6 billion. The Trump administration has vowed to reduce the trade deficit, blaming the gap between exports and imports on unfair practices by America's trade partners.
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