US Trade Deficit Plunges, Boosting Economic Growth
Update: 2026-01-08
Description
U.S. Trade Deficit Plummets to Lowest Level Since 2009The U.S. trade deficit saw a significant drop in October, decreasing by 39% to $29.4 billion, the lowest level since June 2009. This unexpected decline was due to a decrease in imports and an increase in exports. Imports fell by 3.2% to $331.4 billion, with goods imports plunging by 4.5% to $255 billion, potentially influenced by President Trumps tariffs and weaker domestic demand. Exports, however, rose by 2.6% to a record $302 billion, with goods exports surging by 3.8% to $195.9 billion, aided by sales of gold and other precious metals. This unexpected turn of events could potentially boost economic growth in the fourth quarter, following a 4.3% growth in the third quarter. Checkout Solipillow.com
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