U.S. Trade Deficit Declines In February

By John S. McClenahen Reflecting the weakness of the U.S. dollar against other major currencies and a $3.1 billion increase in exported goods, the U.S. trade deficit in goods and services with the rest of the world fell to seasonally adjusted $42.086 billion in February from a revised $43.459 billion in January, the U.S. Commerce Department reported on April 14. A $2.755 billion decrease in American imports from China in February helped reduce the U.S. trade deficit with the PRC to $8.281 billion from $11.477 billion in January. In February, the U.S. trade deficit also decreased with Pacific Rim countries generally as well as with South and Central America. The U.S. trade deficit increased, however, with its NAFTA partners, Western Europe, and Eastern Europe and the former Soviet Republics. At $4.7 billion, the U.S. trade deficit stayed just about the same with the nations belonging to the Organization of Petroleum Exporting Countries.

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