Jump in US Exports Narrows Trade Deficit by 25 Percent

Tariffs and a weaker U.S. dollar bolster American exports and ease purchases of foreign goods.

A shipping vessel off the coast of Seal Beach, Calif., in this file photo. John Fredricks/The Epoch Times

The U.S. trade deficit started the new year narrowing sharply as a weaker dollar and sweeping global tariffs tackled the imbalance.

In January, the goods and services trade deficit declined 25.3 percent from the previous month to $54.5 billion, according to new data released by the Bureau of Economic Analysis on March 12. This is also down from the same time last year. Economists had penciled in an imbalance of $66.6 billion.