US Trade Deficit Plummets by $76,700,000,000 in April Following the Rollout of Trump’s Tariffs – Crypto News – Crypto News
Connect with us
US Trade Deficit Plummets by $76,700,000,000 in April Following the Rollout of Trump’s Tariffs US Trade Deficit Plummets by $76,700,000,000 in April Following the Rollout of Trump’s Tariffs

others

US Trade Deficit Plummets by $76,700,000,000 in April Following the Rollout of Trump’s Tariffs – Crypto News

Published

2 months ago

on

The US trade deficit plummeted by $76.7 billion in April following the rollout of the Trump Administration’s wave of tariffs.

The total goods and services deficit was $61.6 billion in April, down from $138.3 billion in March, per a new report from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

The US clocked $289.4 billion worth of exports in April, $8.3 billion more than March, and $351.0 billion worth of imports, which was $68.4 billion less than the previous month.

“The April decrease in the goods and services deficit reflected a decrease in the goods deficit of $75.2 billion to $87.4 billion and an increase in the services surplus of $1.5 billion to $25.8 billion.

Year-to-date, the goods and services deficit increased $179.3 billion, or 65.7 percent, from the same period in 2024. Exports increased $58.4 billion or 5.5 percent. Imports increased $237.8 billion or 17.8 percent.”

The US trade deficit skyrocketed in March as consumers and businesses stockpiled ahead of Trump’s tariffs.

The future of those tariffs remains uncertain as rulings about their legality ping-pong back and forth through the US court system.

Last week, the United States Court of International Trade (CIT) ruled that many of the duties exceed the authority granted to the president by the International Emergency Economic Powers Act (IEEPA).

The federal court struck down Trump’s April 2nd executive order establishing tariffs against 57 countries worldwide and several follow-up executive orders modifying the duties’ rates and start dates.

The CIT also axed a slew of earlier tariffs Trump had applied to Mexico, Canada and China, which he claimed were retaliation for failing to stop the flood of illegal narcotics into the US.

The Trump Administration immediately appealed the CIT’s ruling and requested a stay on the judgment, which the U.S. Court of Appeals for the Federal Circuit granted.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Related Topics:
Continue Reading

Trending