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Home > News > Company News > US trade deficit shrinks

US trade deficit shrinks

  • Author:Ella Cai
  • Release on:2018-07-09
President Trump’s policy of reducing America’s trade deficit is working, mostly, reports the US Deparment of Commerce.

For the third month in a row, America’s trade deficit (goods and services) with the rest of the world shrank by 6.6% in May  to $43.05 billion.

America’s trade deficit with Japan shrank 12.6% in May from April to $5.49 billion.

America’s deficit with the EU shrank 8.6% to $13.39 billion.

However, with China, the principal target of President Trump’s trade offensive, the deficit increased 18.7% to $33.19.

U.S. exports increased 1.9 percent to $215.33 billion, while imports grew 0.4 percent to $258.38 billion.