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
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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 by 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 year over year. Economists had penciled in an imbalance of $66.6 billion.
