The U.S. trade deficit plummeted to its lowest level since mid-2009, a sharp and unexpected pullback fueled by a drop in imports while President Donald Trump's tariffs took hold, official data showed on Thursday.
The overall trade gap plunged 39% to $29.4 billion in October, the lowest level since June 2009, said the Department of Commerce, as imports dropped by 3.2%.
The deficit was significantly smaller than a $58.4 billion median forecast from surveys of economists by Dow Jones Newswires and The Wall Street Journal.
Continue Reading on Daily Sabah
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.