US trade with Asia slumps in April amid Trump tariffs
NEW YORK -- The global trade deficit for the U.S. shrank by 46% to $87.4 billion in April as the flow of goods from Asia came to a halt following President Donald Trump's sweeping tariff policies covering nearly all trading partners.
The trade deficit in April shrank for nearly all Asian countries, except for Taiwan and Vietnam, where the value of imports was slightly higher than the month before. Imports for Vietnamese goods rose $0.6 billion to $15.7 billion and Taiwan imports grew $1.4 billion to $14.6 billion. The U.S. trade deficit with China shrunk the largest for Asian nations in April to $19.7 billion.
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