The U.S. trade deficit under President Donald Trump has been fascinating to watch. Despite the ridiculous pearl-clutching over trade imbalances, and a diverse array of actions to close the gap, the trade deficit has only worsened.
Until now…
In November, the U.S trade deficit declined 11.5 percent to $49.3 billion, beating median estimates of $60 billion.
Imports slipped 2.9 percent from $266.88 billion in October to $259.19 billion. Exports dipped 0.6 percent from $211.18 billion in October to $209.87 billion.
November exports of capital goods reached an all-time high of $48.4 billion. Meanwhile, November imports of automobiles, car parts, and auto engines surged to a record high of $32.1 billion.
While the US-China trade gap shrank, it was the surplus ($5.4 billion) with Central and South America that surprised experts. Also, exports to Japan inched towards $7 billion, another record high.
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