Thursday, 09 April 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB | UNITED STATES |Ekonomi ASTrade Deficit

The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs even before negotiations with China unraveled and he threatened levies on Mexican goods.

The deficit in goods and services shrank to $50.8 billion, nearly in line with economist estimates, from a revised $51.9 billion the prior month, according to a Commerce Department report Thursday. The merchandise-trade gap with China increased to $29.4 billion while the Mexico deficit narrowed to $7.9 billion.

Exports fell the most in three years, partially reflecting lower demand for civilian aircraft following the worldwide grounding of Boeing Co.™s 737 Max model, though the decline in shipments abroad was broad-based. A narrower deficit overall will add to economic growth and allow Trump to claim some victory on pledges to reduce the gap, though it™s come at a cost to American companies that have lost export business or are paying higher prices.

Goods shipments to China fell to $8.5 billion in April from $10.2 billion the prior month and are down 20% year-to-date, while imports from the nation have declined 13.2% in 2019.

Meanwhile, merchandise exports to Mexico are little changed so far this year while imports are up 6.1%, highlighting the diverging paths of U.S. trade with Mexico and China since Trump imposed the first wave of China tariffs in mid-2018.

Imports Decline

Overall U.S. imports posted the biggest drop since January on declines in inbound chemicals, semiconductors, autos and consumer goods. Merchandise demand was the lowest in more than a year.

U.S. and Mexican negotiators were set to resume talks Thursday with time running short to avert Trump™s threat to impose tariffs next week. Trump, who™s traveling overseas, said that œnot nearly enough progress was made during a 90-minute meeting at the White House between officials from both countries.

The smaller overall trade gap suggests net exports were on track to contribute to economic growth in the second quarter, though if U.S. companies again boost imports to beat tariffs, it could weigh on the pace of expansion.

Thursday™s figures showed the deficit in goods narrowed to $71.7 billion, while the surplus in services increased to $20.9 billion.

A separate report from the Labor Department Thursday showed filings for unemployment benefits remained low last week ahead of Friday™s jobs report for May. Jobless claims were unchanged at 218,000 in the week ended June 1, slightly above economist forecasts.

Source: Bloomberg

RELATED NEWS
U.S. Service-Industry Gauge Tops Forecasts on Employment Boost...
Wednesday, 5 June 2019 21:22 WIB

U.S. service industries expanded at the best pace since February amid a rebound in employment, a signal of labor- market strength before the government™s jobs report due Friday. The non-manufacturi...

Pasar Saham Asia ditutup untuk liburan...
Monday, 31 December 2018 09:15 WIB

Pasar finansial di Indonesia, Jepang, Filipina dan Korea Selatan ditutup pada Senin ini dikarenakan untuk hari libur Nasional. AFP...

Penjualan ritel AS melonjak pada Oktober setelah turun beruntun pertama dalam 5 tahun...
Thursday, 15 November 2018 20:42 WIB

Penjualan di pengecer AS melonjak pada Oktober setelah penurunan back-to-back pertama dalam lebih dari lima tahun, meskipun sebagian besar uang itu dihabiskan untuk gas, mobil dan truk baru. Penjuala...

Inflasi konsumen AS catatkan lonjakan terbesar dalam sembilan bulan ...
Wednesday, 14 November 2018 20:49 WIB

Amerika membayar lebih pada bulan Oktober untuk gas, sewa dan kendaraan bekas, memicu kenaikan terbesar dalam inflasi konsumen dalam sembilan bulan. Indeks harga konsumen naik 0,3% pada Oktober untuk...

Harga Produsen di AS Naik pada Oktober, Yang Terbesar Sejak 2012...
Friday, 9 November 2018 21:04 WIB

Harga produsen AS naik lebih dari perkiraan pada bulan Oktober, lompatan terbesar dalam enam tahun menyusul kenaikan luas dalam biaya untuk barang dan jasa, laporan Departemen Tenaga Kerja menunjukkan...

LATEST NEWS
Gold climbs 1% on safe-haven demand, markets eye OPEC+ verdict

Gold prices gained 1% on Thursday on safe-haven buying ahead of an extended weekend and a crucial meeting of top oil producers, with bullion also latching on to gains in wider markets amid hopes the coronavirus pandemic was close to peaking. Spot...

Mexico Loses Nearly 350,000 Jobs Battling Coronavirus

Mexico™s labor minister said the country has lost 346,748 jobs since mid-March because of its efforts to prevent and control the coronavirus outbreak. Labor Secretary Luisa Maria Alcalde said Wednesday that the greatest losses occurred in the...

Stock Futures Point to Opening Gains on Thursday

Stock futures pointed to a little changed open on Thursday in early morning trading. Futures on the Dow Jones Industrial Average rose 177 points, pointing to an opening gain of about 100 points on Thursday. S&P 500 futures and Nasdaq-100...

POPULAR NEWS
Gold Futures Finish Lower after Brief Climb Above $1,700
Wednesday, 8 April 2020 01:40 WIB

Gold futures finished lower on Tuesday, easing back after briefly climbing above $1,700 an ounce for the first time since late 2012. There was a...

Gold Futures Settle at a More Than 7-Year High
Tuesday, 7 April 2020 00:56 WIB

Gold futures climbed on Monday to settle at their highest in more than seven years. "Fiscal and monetary stimulus will provide a nice backdrop for...

Gold eases on firmer dollar, coronavirus slowdown signs
Wednesday, 8 April 2020 09:16 WIB

Gold prices eased on Wednesday as the U.S. dollar firmed, while signs of a slowdown in the new coronavirus cases in major hot spots hurt the metal's...

Gold Prices Settle Slightly Higher, Then See Volatile Trade after Fed Meeting Minutes
Thursday, 9 April 2020 01:48 WIB

Gold prices settled with a modest gain on Wednesday, then saw volatile moves in electronic trading, edging lower, then higher, following the release...