por admin » Mar Nov 05, 2019 8:41 am
The trade deficit got smaller in September as the US and China work toward tariff truce
PUBLISHED 10 MINS AGO UPDATED 1 MIN AGO
Jeff Cox
@JeffCoxCNBCcom
CNBC.COM
A container delivery truck heads for one of the terminals at the Port of Long Beach in Long Beach, California.
Frederic J. Brown | AFP | Getty Images
A container delivery truck heads for one of the terminals at the Port of Long Beach in Long Beach, California.
The U.S. trade deficit with its global partners contracted to $52.5 billion in September as the White House continued its efforts to close the gap in goods and services.
The deficit was slightly above expectations of $52.2 billion, according to economists surveyed by Dow Jones. August's shortfall was just over $55 billion.
As the administration continues its efforts to close the first phase of a tariff deal with China, the trade balance remains higher from where it was when President Donald Trump took office. Consumers continue to demand foreign goods amid a decade-long economic expansion.
On a year-over-year basis, the current trade deficit is 5.4% higher tan the same period in 2018.
With the two sides working toward an agreement, the deficit with China fell 3.1% to $28 billion. for the month.
Overall, exports fell $1.8 billion to $206 billion while imports also were down, dropping $4.4 billion to $258.4 billion.