US trade gap narrows to lowest level in 3+ years
The US trade deficit narrowed for the third straight month in November, to its lowest level in more than three years.
The Commerce Department said on Tuesday that the gap between exports and imports fell 8.2%, to a seasonally adjusted $43.1 billion, below economists’ expectations of a $43.6 billion deficit.
That was the slimmest it has been since October 2016, before President Donald Trump took office, and compared with a reading of $46.9 billion in October 2019. The president views the trade balance as a scorecard of sorts in the economic disputes he ignited in 2018.
More on the current state of imports and exports HERE