The US’ trade deficit shrank $2.6 billion in April to $50 billion, according to today’s trade balance report. Although imports from China rose $1.5 billion, there were a number of significant import drops. Japanese imports dropped $1.9 billion, Mexican imports slipped $1.7 billions, and Canadian imports fell $1.5 billion, and all other countries dropped slightly. Exports fell as well, with the UK falling $2.4 billion, Canada dropping $1.5, and Mexico shrinking by $1.3 billion.
For more information, see our Trade Balance Report.