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Trump's favorite trade-war gauge sank in April as exports plummeted a record amount
Trump's attempts to bludgeon other countries out of a trade deficit just are not working.
https://www.businessinsider.com/trade-deficit-widens-exports-imports-fall-record-april-coronavirus-trump-2020-6
US trade slumped to decade lows in April as the coronavirus disrupted manufacturing efforts and stifled global travel.
The nation's goods and services deficit widened to $49.4 billion over the month from $42.3 billion, the Commerce Department announced Thursday. President Donald Trump has frequently referred to the metric as the nation's top trade-war scorecard.
The shortfall now sits at its highest level since August 2019, and rising tensions between the US and China threaten to revive retaliatory trade duties after months of relative peace.
US exports plummeted 20.5% in April to $151.3 billion, the metric's largest drop in data dating back to 1992. Imports slid 13.7%, another record decline, to $200.7 billion.
The nation's goods and services deficit widened to $49.4 billion over the month from $42.3 billion, the Commerce Department announced Thursday. President Donald Trump has frequently referred to the metric as the nation's top trade-war scorecard.
The shortfall now sits at its highest level since August 2019, and rising tensions between the US and China threaten to revive retaliatory trade duties after months of relative peace.
US exports plummeted 20.5% in April to $151.3 billion, the metric's largest drop in data dating back to 1992. Imports slid 13.7%, another record decline, to $200.7 billion.