US trade deficit falls in Apr. after importers eased back
The US trade deficit dropped sharply in April from the previous month due to an easing in a rush to import goods before new tariffs kicked in.
The Commerce Department said the deficit came in at 61.6 billion dollars, down 55.5 percent from March when it hit an all-time high.
The department says imports of goods and services fell by 16.3 percent to 350.9 billion dollars. Exports increased 3 percent to 289.3 billion dollars.
President Donald Trump's administration brought in a 10-percent universal tariff and additional levies on automobiles in April.
That prompted US businesses to boost imports ahead of time, widening the trade deficit.
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