While tariffs are restructuring global commerce, they are also impacting the trade deficit.
Truckers transport cargo in the Port of Long Beach, Calif., on Nov. 29, 2023. John Fredricks/The Epoch Times
|Updated:
Since President Donald Trump unveiled the contours of his global tariff plans, the U.S. trade deficit has registered a sharp turnaround after years of staggering trade imbalances.
In October, the goods and services trade deficit declined by 39 percent from the previous month to $29.4 billion—the smallest monthly deficit in 16 years.
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”
