US trade deficit reaches six-month high due to increased imports.
TL;DR Summary
The US trade deficit rose 23% to $74.6bn in April, a six-month high, due to an increase in imports such as cell phones and foreign autos. Exports fell 3.6%. Larger deficits subtract from GDP, and the trade deficit has had an unusually large impact on the US economy since last year. The key trend in trade since last fall has been a broad decline in imports from a record high. The increase in imports in April is unlikely to lead to a sustained reversal in those trends.
- U.S. trade deficit jumps 23% to six-month high as imports rebound MarketWatch
- US Trade Deficit Widens to Largest in Six Months on More Imports Bloomberg
- U.S. Imported More Cars, Phones, Supplies From Abroad The Wall Street Journal
- Canada Goods-Trade Surplus Widens Sharply in April MarketWatch
- Trade Deficit Expands to $74.60B - dshort Advisor Perspectives
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