Trump’s tariff impact! US trade deficit falls 24% as imports plunged in August; government shutdown delayed data release
The US trade deficit significantly narrowed in August, falling to $59.6 billion as tariffs reduced imports. Despite this pullback, the trade gap has widened year-to-date, though a narrower deficit typically supports economic growth. President Trump's tariffs, aimed at addressing perceived exploitation, have faced scrutiny over their impact on inflation and legality.
The US trade deficit significantly narrowed in August, falling to $59.6 billion as tariffs reduced imports. Despite this pullback, the trade gap has widened year-to-date, though a narrower deficit typically supports economic growth. President Trump's tariffs, aimed at addressing perceived exploitation, have faced scrutiny over their impact on inflation and legality.
