U.S. Trade Deficit Narrows

February 7, 2019 03:02 PM

We're finally seeing something new in regards to the U.S. trade deficit. It narrowed in November, as imports fell faster than exports. The Commerce Department says the gap between what the U.S. sells and what it buys from other countries dropped to $49.3 billion from a revised $55.7 billion in October.

America ran a $71.6 billion deficit in the trade of goods such as cars and phones, down from $78.3 in October.  President Trump campaigned on a pledge to slash America's trade deficit with the rest of the world, but the January-November 2018 deficit was still up 9% from a year earlier. 

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