CNBC anchor shocked by US trade deficit drop from $136B to $29B — the lowest since 2009. Was Trump right about tariffs?
The US trade deficit has dropped to $29.4 billion, the lowest since 2009, with imports down and exports up. This significant decrease has sparked discussion on the effectiveness of President Trump's tariffs, despite criticism and concerns about retaliation from trading partners.
The US trade deficit has decreased significantly, from $136 billion in March to $29.4 billion in October. This drop is attributed to a decrease in imports and an increase in exports. The trade deficit is the smallest since June 2009. President Trump's tariffs are designed to discourage imports and reshape trade flows. Despite criticism, some economists believe the US is winning the trade war with tariffs. The US GDP grew at an annual rate of 4.4% in the third quarter, but slowed down to 0.7% in the fourth quarter.
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