The gap between American products shipped abroad and goods the US imported ticked up in March, while the deficit with China narrowed to a 5-year low.
The politically-sensitive deficit with China decreased to a five-year low as shipments picked up and imports slowed.
The politically-sensitive deficit with China decreased to its lowest point since 2014 in March, falling 16.2% to $28.3 billion. The results came ahead of crucial trade negotiations between Washington and Beijing set to take place on Thursday and Friday. Exports to China increased by $1.4 billion to $10.5 billion in March, while the amount of products the US imported from there fell $0.5 billion to $38.8 billion.
American soybean exports continued to climb in March after falling sharply last year when China retaliated against the Trump administration with a 25% tariff on the legume. Soybean shipments to China increased to $0.5 billion.
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