World Media

Commerce: Trade deficit down slightly in August

The US trade gap fell in August to its lowest level in nearly a year as exports of services including travel and finance hit record highs official data showed

Improving global demand and a weaker dollar are helping boost US exports, with the trade deficit narrowing to an 11-month low in August, Commerce Department data showed Thursday. At the same time, the surplus on services trade grew from Euro 0.1 billion to Euro 0.8 billion.

At the same time, the merchandise-trade deficit with China, not adjusted for seasonal fluctuations, was the widest since September 2015 at $34.9 billion. Exports in August totaled 195.3 billion dollars (an increase of 0.4 percent), while imports came to 237.7 billion dollars. "The August decrease in the goods and services deficit". Minimizing that gap boosts USA economic growth. U.S. President Donald Trump signed two executive orders in late March to reduce the trade deficit and to point to the nations and products responsible for such a problem. Next week, the United States begins a fourth round of talks to renegotiate the North American Free Trade Agreement with Canada and Mexico. Economists surveyed by The Wall Street Journal had expected a trade deficit of $42.7 billion.

But the trade gap is up 9 percent so far this year from January through August 2016.