The U.S. trade deficit gets smaller as American exports increase!
Donald Trump had addressed the U.S. trade deficit during his campaign and, now, it has begun to be reduced. We will have to wait and see if this is a lasting trend or not. But it’s a good start and it raises the possibility (ha! At least!) that the media mockery of Trump’s ability to do better for the American economy was undeserved.
ABC News posted the headline, “US trade deficit narrowed to $43.6 billion in June.”
The Commerce Department said Friday that the trade gap slid 5.9 percent in June to $43.6 billion.
Exports of goods and services rose 1.2 percent to $194.4 billion, the highest amount since December 2014 on higher foreign demand for American soybeans, computer accessories and other products. Services exports reached a record $65.4 billion.
Overall imports slipped 0.2 percent to $238 billion on a drop in demand for cellphones and other household goods.