WASHINGTON (AP) — The U.S. trade deficit narrowed in November as imports fell faster than exports.
The Commerce Department says the gap between what the United States sells and what it buys from other countries dropped to $49.3 billion from a revised $55.7 billion in October.
America ran a $71.6 billion deficit in the trade of goods such as cars and cellphones, down from $78.3 in October. But it ran a surplus of $22.3 billion in trade of services such as banking and tourism, down from $22.6 billion in October.
President Donald Trump campaigned on a pledge to slash America’s trade deficit with the rest of the world and has imposed import taxes on foreign steel, aluminum and Chinese products. But the January-November 2018 deficit was still up 9 percent from a year earlier.
