Economy

US international trade September 2019

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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, according to a Commerce Department report Tuesday.

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 13.1% higher from the $46.4 billion level when President Donald Trump took office. Consumers continue to demand foreign goods amid a decadelong economic expansion.

On a year-over-year basis, the…



Source cnbc.com

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