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VOL. 42 | NO. 17 | Friday, April 27, 2018
Record exports cut US trade deficit to $49 billion
WASHINGTON (AP) — Record exports trimmed the U.S. trade deficit in March for the first time in seven months.
The Commerce Department says the trade gap slid to $49 billion, down from $57.7 billion in February and lowest since September.
Exports rose in March to a record $208.5 billion, led by shipments of civilian aircraft and soybeans. Imports slipped 1.8 percent to $257.5 billion.
President Donald Trump has vowed to bring down America's massive deficits, which he blames on bad trade agreements and abusive practices by U.S. trading partners.
Top administration officials are visiting Beijing this week for talks aimed at reducing America's huge trade deficit in goods with China, which fell 11.6 percent in March to $25.9 billion.
So far this year, the trade gap is up 18.5 percent to $163.4 billion.