US trade deficit falls for second straight month in April

Canadian exports hit all-time high in April

Exports of metal and non-metallic mineral products, consumer goods and energy products were up in April, partially offsetting lower exports of aircraft and other transportation equipment and parts.

If the real trade deficit trend is maintained, then trade could help to contribute to the USA gross domestic product for the second quarter after a neutral impact for the first three months of the year.

The Canadian dollar strengthened to a near one-week high against its US counterpart on Wednesday as domestic data showed a narrower-than-expected trade deficit but some gains were pared ahead of this week's G7 summit. Imports fell 0.3%, while exports rose 0.3%.

With the decrease, the trade deficit in April was the smallest since the $44.4 billion deficit seen last September.

CAPMAS said earlier that Egypt's exports in the first two months of 2018 recorded $4.5 billion, compared to $4 billion in the same period of 2017. I'm skeptical. The trade deficit was deteriorating through February and hit $57 billion before rebounding in the most-recent report. Canada has responded with its own tariffs on US steel and aluminum imports as well as tariffs on a broad range of consumer goods.

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There could be imports of more Chinese goods in May to take advantage of lower prices before the tariffs kick in. When adjusted for inflation, the trade gap narrowed to $77.5 billion from $78.2 billion in March.

U.S. April trade deficit narrowed 2.1% to -$46.2 billion, from a revised -$47.2 billion in March which was -$49.0 billion.

"One is hard-pressed as to not concur that the USA economy not only remains on solid footing, but is likely to show an accelerated pace of growth in the second quarter", said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina. RDQ Economics said the trade gap is likely to continue rising as USA consumers run out of American-made goods to buy. The Commerce Department said that ZTE must also put $400 million in escrow - a sum it would forfeit if it violated the agreement.

Anticipating a tense two days in Quebec, Trump has complained about having to attend the summit, particularly since it comes just before his high-stakes meeting in Singapore with North Korean leader Kim Jong Un, said two people with knowledge of his thinking. This article is strictly for informational purposes only.

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