Trump’s Tariffs Are Working: Trade Deficit Narrows To Smallest Since 2009

The U.S. trade deficit in goods and services declined by nearly forty percent from September to October, as the Trump administration’s tariff policies continued to rebalance trade, data from the Commerce Department showed on Thursday.

Imports fell by 3.2 percent to $331.4 billion, while exports rose by 2.6 percent to $302.0 billion. Because imports declined and exports increased, the U.S. trade deficit shrank by a sharp 39.0 percent, indicating that the Trump administration’s trade policies are working to bring U.S. trade into better balance.

At $29.4 billion, the U.S. trade deficit has fallen to the lowest since 2009, when the economy was…

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