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Trade Deficits Unexpectedly Explodes Higher, Widest Gap In Years

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This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

The US trade deficit in goods unexpectedly widened in April, rising 7.7% to $99.4 billion which was the largest deficit since June 2022.

Imports grew much faster than exports at 3.1% versus 0.5% respectively.

Imports of autos surged 10.4% while exports grew just 3.6%, and imports also increased for capital goods and industrial supplies.

Exports decreased for US agricultural and industrial supplies.

Consumer goods exports saw the largest percentage gain.

The trade figures point to ongoing import strength and risks to the economy from a rising trade deficit.

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