U.S. trade deficit shrank in April—but the politically sensitive deficit with China moved higher.
The U.S. trade deficit shrank in April, but the politically sensitive deficit with China moved higher.
The deficit in the trade of goods with China rose 29.7% to $26.9 billion. Merchandise exports to China dropped 24.3%, and imports climbed 11.6%. Mainstream economists say the trade gap is the product of an enduring economic factor that doesn't respond much to changes in trade policy: Americans buy more than they produce, and imports fill the gap.
The world's two biggest economies are locked in a dispute over U.S. allegations that China steals American technology and forces foreign companies to hand over trade secrets in a sharp-elbowed drive to supplant U.S. technological dominance.
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