[h=1]LET THE BLAME & SPIN BEGIN
U.S. trade deficit climbs 5.2% in April to $47.6 billion[/h]
Published: June 2, 2017 8:59 a.m. ET
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[h=2]U.S. failing to cut large deficits with China, Mexico, Germany
[/h]
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The trade deficit rose 5.2% in April to $47.6 billion, keeping the U.S. on track to post a bigger trade gap in 2017 vs 2016.WASHINGTON (MarketWatch) — The nation’s trade deficit rose 5.2% in April, keeping the U.S. on track to post a bigger gap in 2017 than in 2016.
The deficit climbed to $47.6 billion in April from a revised $45.3 billion in March, the Commerce Department said Friday. Economists polled by MarketWatch had forecast a $46.5 billion gap.
Exports slipped 0.3% to $191 billion, largely owing to decline in autos, networking equipment and consumer goods such as pharmaceuticals.
Imports edged up 0.8% to $238.6 billion, however. The U.S. saw a flood of cellphone imports as makers such as Samsung put out new models.
A higher trade deficit lowers the official scorecard for the U.S. economy, known as gross domestic product. The trade deficit is running 13.4% higher through the first four months of 2017 compared to the same period a year earlier.
Nor has the U.S. made any headway in cutting trade deficits with China, Mexico and Germany even though the Trump administration has made it a priority.
The trade gaps with China and Mexico have risen while the gap with Germany has only fallen slightly.
In early Friday trading, the Dow Jones Industrial Average DJIA, +0.22% rose.
U.S. trade deficit climbs 5.2% in April to $47.6 billion[/h]
Published: June 2, 2017 8:59 a.m. ET
1
[h=2]U.S. failing to cut large deficits with China, Mexico, Germany
[/h]
The trade deficit rose 5.2% in April to $47.6 billion, keeping the U.S. on track to post a bigger trade gap in 2017 vs 2016.WASHINGTON (MarketWatch) — The nation’s trade deficit rose 5.2% in April, keeping the U.S. on track to post a bigger gap in 2017 than in 2016.
The deficit climbed to $47.6 billion in April from a revised $45.3 billion in March, the Commerce Department said Friday. Economists polled by MarketWatch had forecast a $46.5 billion gap.
Exports slipped 0.3% to $191 billion, largely owing to decline in autos, networking equipment and consumer goods such as pharmaceuticals.
Imports edged up 0.8% to $238.6 billion, however. The U.S. saw a flood of cellphone imports as makers such as Samsung put out new models.
A higher trade deficit lowers the official scorecard for the U.S. economy, known as gross domestic product. The trade deficit is running 13.4% higher through the first four months of 2017 compared to the same period a year earlier.
Nor has the U.S. made any headway in cutting trade deficits with China, Mexico and Germany even though the Trump administration has made it a priority.
The trade gaps with China and Mexico have risen while the gap with Germany has only fallen slightly.
In early Friday trading, the Dow Jones Industrial Average DJIA, +0.22% rose.
