Specifically, the U.S. merchandise trade deficit narrowed in April to $87.624 billion, down from a record $162.253 billion in March.

The U.S. trade deficit in goods fell 46% last April from its all-time high in March, following Donald Trump's announcement of massive reciprocal tariffs on April 2, the so-called "Liberation Day." The tariffs were temporarily suspended while the country negotiates trade agreements with its partners.

Specifically, the U.S. merchandise trade deficit narrowed in April to $87.624 billion, down from a record $162.253 billion in March.

Thus, the US merchandise trade deficit falls below the $100 billion threshold for the first time since October 2024 and represents the smallest deficit since September 2023.

The collapse in the trade deficit recorded in April reflected a 19.8% drop in imports, which totaled US$276.097 billion, although this was 2.6% higher than in April 2024.

For its part, exports reached US$188.473 billion in April, 3.4% more than in March and 9.6% more than a year earlier.