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U.S. trade gap widens in April masking steep declines in both exports and imports - MarketWatch

U.S. trade gap widens in April masking steep declines in both exports and imports - MarketWatch

U.S. trade gap widens in April masking steep declines in both exports and imports - MarketWatch
Jun 04, 2020 30 secs

trade deficit widened to $49.4 billion in April from a revised $42.3 billion in the prior month, the Commerce Department said Thursday.

The wider trade gap masks a significant decline in trade flows from the COVID-19 pandemic.

Imports dropped 13% to $200.7 billion.

services surplus narrowed $1.3 billion to $22.4 billion.

The trade gap with China widened $9 billion to $26 billion in April.

Big picture: The COVID-19 pandemic has depressed trade flows into and out of the U.S., economists said.

“As global and US lockdowns ease, trade flows may begin to recover—leading indicators point that way.

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