The U.S. trade deficit narrowed to the lowest level since September as exports rose to a record, amid Trump administration tariffs and trade threats that risk hurting global commerce.
The gap decreased 2.1% in April to $46.2 billion, from a revised $47.2 billion in the prior month, Commerce Department data showed June 6. The median estimate of economists surveyed by Bloomberg News called for an April trade deficit of $49 billion. Exports ticked up while imports fell slightly, according to the report.
President Donald Trump’s tariffs on imported steel and aluminum have showed signs of pushing up prices while disrupting some businesses, though they haven’t yet weighed on broader U.S. economic growth. This month’s extension of the metals levies to allies including Canada and Europe, along with plans for tariffs on additional Chinese goods, risk a wider trade war.