US Trade Deficit Falls For Second Straight Month

Record exports shaved the U.S. trade deficit in April for the second straight month.

But so far this year, the deficit is up 11.5 percent from a year ago despite President Donald Trump's vow to reduce the gap through new tariffs on imports and renegotiated trade deals.

The Commerce Department said on Wednesday that the trade deficit dropped to US$46.2 billion in April, down from US$47.2 billion in March and lowest since September.

Exports rose to a record US$211.2 billion while imports dipped to US$257.4 billion.

The trade deficit in goods with China widened 8.1 percent in April, but the gap with Mexico narrowed 29.8 percent.

Trump campaigned on a promise to bring down the U.S. trade deficit — the difference between what America sells foreign countries and what it buys from them. (AP)