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…