US Trade Deficit Drops by 24% in August

Augusts trade deficit drop: A positive sign for the U.S. economyThe U.S. trade deficit saw a significant decrease in August, with a twenty-four percent drop, narrowing the gap by eighteen point six billion dollars. This improvement is largely due to a decline in imports following new tariffs and a slight increase in exports. Economists view this as a positive sign, potentially leading to a stronger GDP reading for the third quarter. However, the year-to-date trade deficit remains twenty-five percent higher than last year, indicating theres still work to be done to balance the trade scales.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.