US goods trade deficit hits nearly two-year low

[CallumWK]

Let's clarify things before Trump supporters abuse it as another winning. BTW it is a Reuter article, not a Yahoo finance, which they consider not credible.

 

https://finance.yahoo.com/news/us-goods-trade-deficit-narrows-124238224.html

 

US goods trade deficit hits nearly two-year low as imports tumble

While the unexpected contraction reported by the Commerce Department on Tuesday could prompt economists to upgrade their gross domestic product estimates for last quarter, the steep decline in imports flagged slowing domestic demand.

 

Imports surged in the first quarter as businesses rushed to beat higher prices from President Donald Trump's sweeping tariffs on foreign merchandise, contributing to the first decline in GDP in three years. The Trump administration has announced a number of trade deals which economists said could help to ease uncertainty.

"This lends upside risk for our (GDP) forecast," said Matthew Martin, a senior U.S. economist at Oxford Economics. "As trade policy uncertainty eases, imports and exports may begin to find their troughs in the second half of the year and become less volatile."