America’s trade deficit for February narrowed down month-over-month, with exports rising and imports registering a slight decline, according to latest data from the U.S. Census Bureau.
“The goods and services deficit was $122.7 billion in February, down $8.0 billion from $130.7 billion in January,” the agency said in an April 3 statement.
“February exports were $278.5 billion, $8.0 billion more than January exports. February imports were $401.1 billion, less than $0.1 billion less than January imports.”
An April 3 report from auditing company KPMG said that while the February deficit was down 6.1 percent from January, it remains elevated. The report attributed the high deficit to importers stocking up goods in the first two months of the year “in anticipation of potential tariff announcements.”…