US trade gap with China falls by US$4.2b in MarchContainers are offloaded from a Yang Ming Marine Transport Corporation vessel at the Port of Tacoma in Tacoma, Washington in November. The politically sensitive deficit in the trade of goods with China fell by 21.3 percent to US$15.5 billion in March as exports increased slightly and imports plummeted, the US Commerce Department reported Tuesday. The deficit in goods with China fell by US$4.2 billion as U.S. exports to China slightly increased to US$7.8 billion, while imports from China fell to US$23.3 billion. So far this year the trade gap with China is 35% lower compared with a year ago. The sinking U.S. economy has also wiped out demand for Apple iPhones and other popular products made in China as Americans grapple with lost jobs and income.

Source: The Standard May 06, 2020 03:00 UTC