WASHINGTON: The U.S. goods trade deficit with China, a focus of President Donald Trump's"America First" agenda dropped to a five-year low in March amid a surge in exports, including soybeans.
When adjusted for seasonal fluctuations, the shortfall with China tightened to US$28.3 billion. That was the smallest since April 2016 and followed a US$30.1 billion gap in February. When adjusted for inflation, the overall goods trade deficit increased US$0.5 billion to US$82.1 billion in March.MODERATE INFLATION
The producer price index for final demand increased 0.2 percent last month after jumping 0.6 percent in March. In the 12 months through April, the PPI increased 2.2 percent, matching March's rise, the department said in another report.
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