Shipping containers are stacked as cranes unload cargo ships at the Port of Los Angeles in San Pedro, Calif., on April 15, 2025. Patrick T. Fallon/AFP via Getty Images
President Donald Trump’s tariffs helped narrow the U.S. trade deficit in August as imports contracted by more than 5 percent, new government data show.
The trade gap plummeted by nearly 24 percent to $59.6 billion, down from $78.2 billion, according to a report released by the Commerce Department’s Bureau of Economic Analysis on Nov. 19.
