The U.S. trade deficit narrowed by the most in 10 months in January likely as Ch...
WASHINGTON - The U.S. trade deficit narrowed by the most in 10 months in January likely as China boosted purchases of soybeans, leading to a rebound in exports after three straight monthly declines.
Still, the trade deficit remains large despite President Donald Trump’s “America First” policies to significantly shrink it. The White House’s protectionist trade tariffs have left the United States mired in a bruising trade war with China and provoked retaliatory tariffs from other trading partners.
Trump has delayed tariffs on $200 billion worth of Chinese imports as negotiations to resolve the eight-month trade war continue, with Beijing pledging to resume bulk purchases of soybeans after cancellations at the height of the trade fight. The trade deficit in January was pushed down by a 0.9 percent increase in exports to $207.3 billion. Soybean exports rose by $0.9 billion in January. Exports of motor vehicles and parts increased by $1.2 billion.
Capital goods imports dropped by $3.0 billion in January, led by a $0.9 billion decline in imports of computer accessories. There were also decreases in imports of semiconductors and civilian aircraft.
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