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US trade deficit shrinks in 2019 for first time in six years


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US trade deficit shrinks in 2019 for first time in six years

Published Wed, Feb 5 20209:02 AM ESTUpdated Wed, Feb 5 20209:17 AM EST
 
 
  • The U.S. trade deficit fell for the first time in six years in 2019 as President Donald Trump hammered China with import taxes.
  • The Commerce Department said Wednesday that the gap between what the United States sells and what it buys abroad fell 1.7% last year to $616.8 billion.
  • Trump has imposed tariffs on $360 billion worth of Chinese imports in a battle over Beijing’s aggressive drive to challenge American technological dominance.
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