Rising exports and falling imports cut the U.S. trade deficit to $42.4 billion in August, the lowest in 11 months. The Commerce Department said Thursday that the trade gap — the difference between exports and imports — fell in August from $43.6 billion in July. A trade deficit means that the United States is buying more goods and services from other countries than it is selling to them. The gap in goods with Mexico climbed 26 percent to $6.2 billion in August, and the goods deficit with China rose 4 percent to $34.9 billion. But the trade gap is up 9 percent so far this year from January through August 2016.

Source: ABC News October 05, 2017 12:37 UTC