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U.S. Trade Deficit Deepens
America’s goods and services trade deficit widened 5% to $47.6 billion from March to April, the U.S. Dept. of Commerce says.
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America’s goods and services trade deficit widened 5% to $47.6 billion from March to April, the U.S. Dept. of Commerce says. The deficit through the first four months of 2017 expanded 13%.
The department says exports of vehicles and components slipped by about $500 million in April. The largest deficits in the first quarter of this year were with China ($32.1 billion), Mexico ($6.4 billion), Germany ($5.5 billion) and Japan ($5.0 billion).
Analysts say the strong dollar may have contributed to the widening trade gap, which makes foreign goods cheaper in the U.S. and American-made goods costlier overseas.
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