President Donald Trump’s tariffs helped shrink the U.S. trade deficit to its lowest monthly level in more than five years, according to new data released by the Bureau of Economic Analysis on Dec. 11.
The U.S. goods and services trade deficit narrowed 10.9 percent in September to $52.8 billion—the lowest monthly deficit since June 2020—down from $59.3 billion registered in August.
Economists polled by Reuters had forecast a September trade deficit of $63.3 billion.
Year-to-date, the trade deficit increased by $112.6 billion, or 17.2 percent, as imports and exports rose 7.7 percent and 5.2 percent, respectively.
Exports increased in September by 3 percent to $289.3 billion—the second highest on record—driven by shipments of nonmonetary gold and pharmaceutical preparations….