The U.S. trade deficit has halved due to a sharp decline in imports caused by Trump's tariffs

ChainCatcher news, citing the Wall Street Journal, reported that the U.S. Department of Commerce stated on Thursday that the U.S. trade deficit in April sharply decreased by 55.5% to $61.6 billion. U.S. imports fell by 16% from March to $351 billion in April, while exports rose by 3% to $289.4 billion. This resulted in a trade deficit of $61.6 billion, the smallest since September 2023. In April, imports of consumer goods decreased by $33 billion, with a significant drop in pharmaceutical imports. Auto imports decreased by $6.4 billion.

The data showed a significant initial effect from the White House's substantial tariff increase in early April, but the future direction remains unclear.