U.S. trade deficit narrows sharply in April, as imports drop by most on record

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Open this photo in gallery: The port of Oakland, Calif., in May. The U.S. trade gap contracted by a record 55.5 per cent to US$61.6-billion, the lowest since September of 2023.Carlos Barria/Reuters The U.S. trade deficit narrowed sharply in April, with imports decreasing by the most on record as the front-running of goods ahead of tariffs ebbed, which could provide a lift to economic growth this quarter. The trade gap contracted by a record 55.5 per cent to US$61.6-billion, the lowest level since September, 2023, the Commerce Department’s Bureau of Economic Analysis said on Thursday. Data for March was revised...