US Trade Gap Widens to Largest in 18 Months, Reaching $74.6 Billion in April

The US trade gap has widened to its largest in 18 months, reaching $74.6 billion in April. This marks a significant increase from March’s revised figure of $68.6 billion. The trade deficit expanded slightly less than analysts expected, with imports rising more quickly than exports.

Imports grew by 2.4 percent to $338.2 billion, while exports rose by 0.8 percent to $263.7 billion. The goods deficit with China, a point of contention in US-China competition, dropped by $2.5 billion to $22.1 billion in April, mainly due to a decrease in imports. This trend reflects a complex interplay of factors, including strong domestic demand, lean inventories, and a weaker global backdrop[1][2][3][4][5].

Citations:
[1] https://www.legit.ng/business-economy/economy/1596118-us-trade-gap-widens-largest-18-months/
[2] https://www.businesstimes.com.sg/international/us-trade-gap-widens-largest-18-months
[3] https://www.adaherald.com/news/state_national/us-trade-gap-widens-to-largest-in-18-months/article_ca170f0b-b201-5b1c-adbf-23ce400e08ed.html
[4] https://finance.yahoo.com/news/us-trade-gap-widens-largest-133950974.html
[5] https://www.kpvi.com/news/national_news/us-trade-gap-widens-to-largest-in-18-months/article_7d215db9-51a0-5558-b301-5e4f073cc872.html