US trade deficit narrows to $51.15B vs. $57B est.
The trade deficit between the U.S. and its global partners dropped sharply in January to $51.15 billion as exports rebounded from a slowdown at the end of 2018, the Commerce Department reported Wednesday.
The decline of 14.6 percent represented the sharpest drop since March 2018 and comes amid continued efforts by the Trump administration to level the playing field with China and other global partners. China specifically represented a good chunk of the reduction in the trade balance shortfall, as the deficit decreased $5.5 billion to $33.2 billion as imports fell 12.2 percent to $40.8 billion. The two nations have been involved in a tit-for-tat tariff battle as officials try to work out a long-range framework that opens up markets for U.S. goods.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taraji P. Henson wants Joe Biden to run for president: ‘Save us, save us, save us!’The 'Best of Enemies' actress also said she 'trusts' Bernie Sanders as a candidate because of his historic involvement in civil rights activism.
Read more »
Watch Wednesday's trade data to see how China conflict is affecting US trade gapJanuary's international trade data could show the U.S. trade gap was affected by trade friction and tariffs when it is reported Wednesday morning, economists said.
Read more »
Former US Trade Representative says a China trade deal is probably weeks away, not monthsCharlene Barshefsky said it ultimately doesn't matter when the United States and China resolve their trade differences, as long as tensions don't escalate further.
Read more »
Cramer: US-China trade talks is now more about a 'trust gap' than the 'trade gap'Jim Cramer explains why he thinks President Donald Trump plans to leave tariffs in place and why the Federal Reserve helped in his trade standoff with China.
Read more »
China says top U.S. trade officials to visit Beijing March 28-29A U.S. trade delegation headed by Trade Representative Robert Lighthizer and Tre...
Read more »
Trump ramps up trade war, saying US will keep tariffs on China for a 'substantial period'Trade war tensions rose after President Donald Trump said that the US would leave $250 billion of tariffs with China in place for a 'substantial period.'
Read more »
Trump's 'economic illiteracy' caused the US-China trade war, says professorU.S. President Donald Trump has on many occasions said the trade imbalance between the U.S. and China is a sign that America is being 'ripped off.'
Read more »
US should treat China as 'equals' in trade deal enforcement, Chinese economist saysWhen it comes to enforcing any prospective trade deal between the U.S. and China, Washington must treat its Chinese counterparts as 'equals,' according to Li Daokui of Tsinghua University.
Read more »
The world's biggest shipping line sees other threats to trade besides the US-China fightTrade talks between the U.S. and the European Union, as well as possibel changes in the Europe-China relationship, also pose risks, says the chief executive of A.P. Moller-Maersk.
Read more »